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 Saturday, May 4, 2024, in Omaha, Neb. The company reported reported a $12.7 billion profit, or $8.825 per Class A share, in the quarter. That’s roughly one-third of last year's $35.5 billion, or $24,377 per A share.The figures were heavily influenced by a large drop in the paper value of Berkshire’s investments.
The estimated value of Berkshire’s Apple stake suggests Buffett sold off more than 100 million shares. In the past, Buffett has said he invested in Apple’s stock because of how devoted consumers are to the company's products, similar to consumer brands he loves like Berkshire's own See's Candy. Most of Berkshire's many other companies delivered solid results, including a 72% jump in operating profits at the utility unit, adding $717 million to Berkshire’s total.
U.S. News Warren Buffett
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Berkshire's profit plunges 64% on portfolio holdings as Buffett it sells AppleBerkshire Hathaway says its first quarter profit plummeted on the paper value of its investments. At the same time, the company said Saturday that most of the businesses it owns outright did well. A few hours before shareholders got the chance to hear from CEO Warren Buffett at the annual meeting in Omaha, Berkshire reported a $12.
Source: AP - 🏆 728. / 51 Read more »
Berkshire's profit plunges 64% on portfolio holdings as Buffett it sells AppleBerkshire Hathaway says its first quarter profit plummeted on the paper value of its investments.
Source: wjxt4 - 🏆 246. / 63 Read more »
Berkshire's profit plunges 64% on portfolio holdings as Buffett it sells AppleBerkshire Hathaway says its first quarter profit plummeted on the paper value of its investments.
Source: ksatnews - 🏆 442. / 53 Read more »
Unveiling Buffett's top life lessons learned at ten Warren Buffett Berkshire Hathaway meetingsI have attended Warren Buffett's annual meetings in Omaha for ten years and this has been a true masterclass in decision making and life mastery.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Warren Buffett's Berkshire Hathaway cut Apple investment by about 13% in the first quarterBerkshire reported that its Apple bet was worth $135.4 billion, implying around 790 million shares. That would mark a decline of around 13% in the stake.
Source: NBCLA - 🏆 319. / 59 Read more »
Help Name the New Apple Variety, WA 64Washington State University is seeking suggestions from locals to name a new apple variety, WA 64, which is a cross between Honeycrisp and Cripps Pink. The apple is described as firm, tasty, and attractive with a pink blush over a yellow background.
Source: fox13seattle - 🏆 328. / 59 Read more »