Berkshire’s profit doubles as equity holdings surge; buys back $4.5 bln shares
Berkshire Hathaway Inc. experienced a significant boost in profits and share repurchases during the second quarter of its fiscal year. Under the leadership of CEO Greg Abel, the conglomerate's net profit doubled, reaching $25.67 billion, or $17,868 per Class A share. This growth was fueled by a 16% increase in operating profit to $12.98 billion across the company's diverse businesses.
Notably, Berkshire resumed buying back shares for the first time in more than a year, repurchasing $4.53 billion worth of stock. This aggressive move into equities marked a shift from the previous quarter where the company held a record cash and Treasury reserve of $380 billion. The increased buyback activity suggests Abel found attractive market valuations to retire shares while maintaining a significant cash cushion for future large-scale deals or economic downturns.
Top holdings such as Alphabet Inc. contributed to the investment gains, with $16.08 billion in unrealized appreciation across Berkshire's core public stock holdings.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
