{"id":7868,"date":"2023-08-05T16:16:39","date_gmt":"2023-08-05T16:16:39","guid":{"rendered":"https:\/\/isafespend.com\/news\/berkshire-hathaways-operating-earnings-rise-nearly-7-cash-pile-approaches-150-billion\/"},"modified":"2023-08-05T16:16:40","modified_gmt":"2023-08-05T16:16:40","slug":"berkshire-hathaways-operating-earnings-rise-nearly-7-cash-pile-approaches-150-billion","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=7868","title":{"rendered":"Berkshire Hathaway\u2019s operating earnings rise nearly 7%, cash pile approaches $150 billion"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Berkshire Hathaway<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> on Saturday reported a solid increase in second-quarter operating earnings, while the cash hoard at Warren Buffett&#8217;s conglomerate\u00a0swelled to nearly $150 billion.<\/p>\n<p>The Omaha-based giant&#8217;s operating earnings \u2014 which encompass profits made from the myriad of businesses owned by the company, like insurance, railroads and utilities \u2014 totaled $10.043 billion last quarter, 6.6% higher than the figure from the same quarter a year ago.<\/p>\n<p>Net income totaled $35.91 billion, compared with a $43.62 billion loss during the second quarter last year. The strong results were bolstered by a jump in Berkshire&#8217;s insurance underwriting and investment income.<\/p>\n<p>Berkshire reported a near $26 billion unrealized gain from its investments as its gigantic stake in <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\">Apple<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> led the market rally in the second quarter. The tech giant soared nearly 18% during the quarter and Berkshire&#8217;s bet has ballooned to $177.6 billion.<\/p>\n<p>The &#8220;Oracle of Omaha&#8221; trimmed his <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\">Chevron<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> stake by $1.4 billion to $19.4 billion at the end of June. Shares of Chevron have significantly lagged the broader market this year, down more than 11%. The S&amp;P 500 has rallied almost 17% in 2023.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">Cash hoard swells<\/h2>\n<div class=\"group\">\n<p>Berkshire&#8217;s massive cash pile grew to $147.377 billion at the end of June, near a record and much higher than the $130.616 billion in the first quarter.<\/p>\n<p>Share repurchase activity slowed down as the conglomerate&#8217;s stock climbed back to a record high. The company spent just about $1.4 billion in buybacks during the quarter, bringing the year-to-date total to $5.8 billion.<\/p>\n<p>The conglomerate&#8217;s Class A shares hit a new record close of $541,000 on Thursday, exceeding the conglomerate&#8217;s previous high of $539,180 reached on March 22, 2022. The stock has gained 13.8% this year.<\/p>\n<\/div>\n<div>\n<div class=\"Collapsible-proliveCollapsableContainer\" role=\"button\" tabindex=\"0\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"256\" height=\"256\" viewbox=\"0 0 256 256\" aria-labelledby=\"title desc\" role=\"img\" focusable=\"false\" preserveaspectratio=\"xMinYMin\" class=\"Collapsible-stockChartIcon\"><title>Stock Chart Icon<\/title><desc>Stock chart icon<\/desc><g transform=\"translate(1.4065934065934016 1.4065934065934016) scale(2.81 2.81)\"><path d=\"M 87.994 0 H 69.342 c -1.787 0 -2.682 2.16 -1.418 3.424 l 5.795 5.795 l -33.82 33.82 L 28.056 31.196 l -3.174 -3.174 c -1.074 -1.074 -2.815 -1.074 -3.889 0 L 0.805 48.209 c -1.074 1.074 -1.074 2.815 0 3.889 l 3.174 3.174 c 1.074 1.074 2.815 1.074 3.889 0 l 15.069 -15.069 l 14.994 14.994 c 1.074 1.074 2.815 1.074 3.889 0 l 1.614 -1.614 c 0.083 -0.066 0.17 -0.125 0.247 -0.202 l 37.1 -37.1 l 5.795 5.795 C 87.84 23.34 90 22.445 90 20.658 V 2.006 C 90 0.898 89.102 0 87.994 0 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 65.626 37.8 v 49.45 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 23.518 L 65.626 37.8 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 47.115 56.312 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 42.03 L 47.115 56.312 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 39.876 60.503 c -1.937 0 -3.757 -0.754 -5.127 -2.124 l -6.146 -6.145 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 59.844 C 41.952 60.271 40.933 60.503 39.876 60.503 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 22.937 46.567 L 11.051 58.453 c -0.298 0.298 -0.621 0.562 -0.959 0.8 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 48.004 L 22.937 46.567 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><\/g><\/svg><\/p>\n<div class=\"Collapsible-proLivePlayerCloseOrExpand\"><\/div>\n<\/div>\n<p><iframe title=\"BRK.A in 2023\" src=\"https:\/\/www.cnbc.com\/appchart?symbol=BRK.A&amp;range=YTD&amp;type=mountain&amp;embedded=true&amp;%24DEVICE%24=undefined\" height=\"460\" scrolling=\"no\" style=\"border:0;width:100%\"><\/iframe><\/p>\n<p>BRK.A in 2023<\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/08\/05\/berkshire-hathaway-brk-earnings-q2-2023.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Berkshire Hathaway on Saturday reported a solid increase in second-quarter operating earnings, while the cash hoard at Warren Buffett&#8217;s conglomerate\u00a0swelled to nearly $150 billion. The Omaha-based giant&#8217;s operating earnings \u2014 which encompass profits made from the myriad of businesses owned by the company, like insurance, railroads and utilities \u2014 totaled $10.043 billion last quarter, 6.6%<\/p>\n","protected":false},"author":1,"featured_media":7869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-7868","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Berkshire Hathaway\u2019s operating earnings rise nearly 7%, cash pile approaches $150 billion | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Berkshire Hathaway on Saturday reported a solid increase in second-quarter operating earnings, while the cash hoard at Warren 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