Berkshire Hathaway reported strong earnings, slashed Apple stake, and increased cash reserves significantly.

From Morningstar: 2024-08-05 05:27:00

Berkshire Hathaway reported second-quarter operating results in line with expectations, leaving $640,000 per Class A and $427 per Class B share fair value estimates unchanged. Revenue decreased to $117.5 billion in the first half, with operating revenue up 1.2%. Operating earnings increased 15.5% to $11.6 billion, and book value per share rose to $415,668.

Berkshire Hathaway sold off half of its Apple stake, increasing cash on hand to a record $276.9 billion. Free cash flow reached $9.1 billion, with $75.5 billion of stock sold off, mainly Apple. The company only repurchased $356 million of its own shares, the lowest quarterly buyback since 2018, due to shares staying close to fair value.



Read more at Morningstar: Berkshire Hathaway Earnings: Buffett Slashes Apple…