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    Berkshire Hathaway BRK Revenues Q3 2021

    Warren Buffett at Berkshire Hathaway’s Annual Meeting in Los Angeles, California. May 1, 2021.

    Gerard Miller | CNBC

    Berkshire Hathaway Operating profit increased by another double digits thanks to the continued recovery of the rail, utilities and energy businesses from the pandemic, but Warren Buffett continued to stand by and the company’s cash pile hit a record high.

    Conglomerates reported operating profit of $ 6.47 billion in the third quarter, up 18% from $ 5.48 billion in the year-ago quarter, according to a revenue report released on Saturday.

    Berkshire said countless businesses have benefited from the resumption of the economy as demand has begun to return to pre-pandemic levels. Operating profit in the rail, utilities and energy sectors increased 11% year-on-year to $ 3.03 billion in the third quarter.

    “Since the third quarter of 2020, many businesses have experienced significantly higher sales and revenues compared to the second quarter, reflecting rising customer demand,” Berkshire said in a report. Stated. “At this time, we cannot reasonably estimate the extent of the long-term impact.”

    At the end of September, Berkshire’s cash reached a record $ 149.2 billion, up from $ 144.1 billion in the second quarter. Buffett hasn’t made a major acquisition in the last few years as it has hit record highs and the trading environment has turned competitive.

    Despite Berkshire’s aggressive share buyback, a record amount of cash was brought in. The company repurchased $ 7.6 billion in shares in the third quarter, bringing the nine-month total to $ 20.2 billion. Berkshire bought a record $ 24.7 billion in shares last year.

    Overall earnings, reflecting Berkshire’s fluctuating equity investment, fell to $ 10.3 billion in the third quarter, a year-on-year decline of more than 60%. Revenues from Berkshire’s equity investments totaled only $ 3.8 billion in the previous quarter, compared to a profit of $ 24.8 billion a year ago.

    Buffett emphasized that investors should not focus too much on quarterly changes in investment gains or losses.

    In a quarterly report, the conglomerate said, “The amount of return / loss on an investment in a particular quarter is usually meaningless, which can be very misleading for investors with little or no knowledge of accounting rules. We provide net income figures. ”

    Berkshire Hathaway B Share This year it has risen by more than 24%, about 2% below the record high reached in May.

    Berkshire Hathaway BRK Revenues Q3 2021

    Source link Berkshire Hathaway BRK Revenues Q3 2021

    The post Berkshire Hathaway BRK Revenues Q3 2021 appeared first on Eminetra.

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