Berkshire Hathaway reported better-than-expected earnings while the conglomerate, no longer run by Warren Buffett, announced a big increase in share buybacks and a significant decline in its cash **** d. The stock is in a buy zone.
Berkshire Hathaway (BRKB) reported Q2 operating earnings of $12.98 billion, up 16% vs. a year earlier. Revenue climbed 10% to $101.8 billion. Both beat views.
Manufacturing, service and retailing units and Berkshire Hathaway Energy were strong performers, offsetting insurance weakness.
Berkshire bought back $4.5 billion of its own stock, up from $235 million in Q1. Various filings indicate that buybacks continued in July.
Berkshire also bought $19.8 billion net in equities, ending a 14-quarter decline in net stock purchases. The company sold $8.1 billion worth in Q1.
#berkshire #hathaway
Berkshire Hathaway (BRKB) reported Q2 operating earnings of $12.98 billion, up 16% vs. a year earlier. Revenue climbed 10% to $101.8 billion. Both beat views.
Manufacturing, service and retailing units and Berkshire Hathaway Energy were strong performers, offsetting insurance weakness.
Berkshire bought back $4.5 billion of its own stock, up from $235 million in Q1. Various filings indicate that buybacks continued in July.
Berkshire also bought $19.8 billion net in equities, ending a 14-quarter decline in net stock purchases. The company sold $8.1 billion worth in Q1.
#berkshire #hathaway
15 hours ago
