Berkshire Hathaway Inc. (NYSE:BRK-B) shares closed 1.5% higher at $529.42 on August 10 after gaining as much as over 3% during the session. The Class A shares rose as much as 3.3%, reaching their highest level since the day before Warren Buffett announced he would step down as chief executive.
The market was not simply responding to another profitable quarter. Berkshire-defined operating earnings, a non-GAAP measure of performance across its businesses, rose 16% to $12.98 billion. The bigger surprise was how quickly Greg Abel had started putting Berkshire Hathaway Inc. (NYSE:BRK-B)'s enormous liquidity to work.
Berkshire purchased $23.5 billion of publicly traded stocks during the second quarter and repurchased $4.5 billion of its own shares. In July, it deployed at least another $10.1 billion through additional buybacks and the acquisition of Taylor Morrison Home Corporation.
The question is whether this marks the beginning of a more active capital-allocation era or merely a busy stretch that still leaves Abel with hundreds of billions of dollars to deploy.
Pixabay/Public Domain
#berkshire #billion #quarter
The market was not simply responding to another profitable quarter. Berkshire-defined operating earnings, a non-GAAP measure of performance across its businesses, rose 16% to $12.98 billion. The bigger surprise was how quickly Greg Abel had started putting Berkshire Hathaway Inc. (NYSE:BRK-B)'s enormous liquidity to work.
Berkshire purchased $23.5 billion of publicly traded stocks during the second quarter and repurchased $4.5 billion of its own shares. In July, it deployed at least another $10.1 billion through additional buybacks and the acquisition of Taylor Morrison Home Corporation.
The question is whether this marks the beginning of a more active capital-allocation era or merely a busy stretch that still leaves Abel with hundreds of billions of dollars to deploy.
Pixabay/Public Domain
#berkshire #billion #quarter
2 months ago
