Due to the turbulence in the financial markets, Berkshire Hathaway
Inc. announced a drop in first quarter earnings.
Berkshire Hathaway Inc., owned by Warren Buffett, announced net income of $5.46 billion, or the equivalent of $3,702 in Class A shares.
The revenue for Buffett's Berkshire Hathaway Inc. decreased from $
11.71 billion, or $ 7,638 per share, in the prior year.
Operating earnings for Warren Buffett's business increased slightly from $7.02 billion to $7.04 billion.
Operating earnings for Warren Buffett's business increased slightly
from $7.02 billion to $7.04 billion.
The cost of paying out insurance claims increased dramatically in t
he first quarter, which had a considerable negative impact on Berkshire's insurance underwriting business.
Operating income decreased to $ 47 million from $ 764 million a yea
r earlier as used car prices increased.
Numerous industries owned by Berkshire Hathaway Inc., including its
railroad, utilities, and energy businesses as well as its manufacturing, service, and retailing divisions, experienced growth.
By the end of 2021, Berkshire's equity holdings were valued $331 bi
llion. The net income of Berkshire might fluctuate from quarter to quarter.
The stock that Warren Buffett prefers is Berkshire Hathaway massive
wager on this oil business