Berkshire Hathaway reported second-quarter net income attributable to shareholders of $25.667 billion, versus $12.37 billion a year earlier, a gain of more than 100%, according to Cailian Press via PANews on Aug. 9. Operating profit rose to $12.983 billion from $11.16 billion in the year-ago period. Investment gains climbed to $12.684 billion against $4.97 billion previously. The conglomerate's cash reserves slipped to $364.7 billion at the end of June from $397 billion at the close of the first quarter. The fair value of its fixed-income securities investments reached $17.034 billion as of June 30, comprising $3.002 billion in U.S. Treasuries, $12.668 billion in foreign bonds and $1.364 billion in corporate bonds. Berkshire's top five equity holdings were Alphabet, American Express, Apple, Bank of America and Coca-Cola, with Alphabet as the largest position. Buybacks totaled about $4.5 billion in the second quarter, lifting the first-half figure to roughly $4.8 billion. The report shows a lower cash pile and a sharp jump in investment income.
Berkshire Hathaway reported second-quarter net income attributable to shareholders of $25.667 billion, more than double the $12.37 billion it posted a year earlier, according to Cailian Press via PANews on Aug. 9.
Operating profit for the quarter came to $12.983 billion, up from $11.16 billion in the year-ago period. Investment gains reached $12.684 billion, compared with $4.97 billion a year earlier. Cash reserves slipped to $364.7 billion from $397 billion at the end of the first quarter.
As of June 30, the fair value of Berkshire's fixed-income securities investments stood at $17.034 billion. That comprised $3.002 billion in U.S. Treasuries, $12.668 billion in foreign bonds and $1.364 billion in corporate bonds.
Among equity holdings, the top five positions were Alphabet, American Express, Apple, Bank of America and Coca-Cola, with Alphabet as the largest stake. The company spent about $4.5 billion on share buybacks in the second quarter, lifting first-half repurchases to roughly $4.8 billion.
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