Investor Warren Buffett slashed Berkshire Hathaway's massive Apple stake that he once called a pillar of the company that he intended to hold indefinitely.
Discover incredible Insider Deals that will make your life a little bit easierFILE - Michelle King of San Francisco does yoga in the See's Candies booth before the arrival of shareholders for the Berkshire Hathaway annual meeting on May 4, 2024, in Omaha, Neb. Berkshire Hathaway reports earnings on Saturday, Aug. 3, 2024.
Berkshire said it earned $30.348 billion, or $21,122 per Class A share, during the second quarter. That's down from $35.912 billion, or $24,775 per A share, a year ago when the paper value of its investment portfolio was up $24.2 billion.Buffett has long cautioned investors that it's better to look at Berkshire's operating earnings when judging its performance because those figures exclude investment gains and losses which can vary widely from quarter to quarter.
The results easily topped the $6,530.25 earnings per share that four analysts surveyed by FactSet Research predicted.
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