Overview
- Berkshire reported operating income of $13.5 billion, up 34%, with net earnings rising 17% to $30.8 billion.
- Cash and short‑term investments climbed to roughly $382 billion, the highest level the company has ever disclosed.
- The company bought $6.4 billion of stocks and sold $12.5 billion, marking a 12th straight quarter as a net seller, and it repurchased no Berkshire shares for a fifth consecutive quarter.
- Insurance results improved and BNSF Railway profit rose 6%, while units such as Clayton Homes, Duracell and Fruit of the Loom saw softer growth.
- Warren Buffett will step down as CEO at year‑end with Greg Abel set to succeed him, as the shares lag the S&P 500 since May and analysts press for clearer plans to deploy the cash hoard.