Warren Buffett’s Berkshire Hathaway reported its first quarterly loss in a year while operating earnings jumped by 40% and the firm’s cash reserves reached a record $157.2 billion. The quarterly loss has been heavily attributed to the company’s stake in Apple (AAPL).
The company also reported a substantial $10 billion increase in liquidity during the quarter, pushing its total liquidity to a record $157 billion, in close proximity to Apple’s $162 billion liquidity.
The company disclosed operating profits of $10.76 billion, marking a substantial 41% increase, or $7.4 per Class A share. This performance was attributed to the impact of high interest rates on liquidity and gains in its insurance businesses.
Source: Company report
