Warren Buffet’s Berkshire Hathaway Profits Up By 82% But Pandemic Affects Assorted Businesses


Source Flickr


Berkshire Hathaway has announced an 82% rise in profits in its third quarter results. However, the conglomerate said that the pandemic has hurt some of its assorted businesses.

On Saturday Berkshire said that it had earned $30.1 billion which translates to $18,994 per Class A share during the third quarter. These gains were mainly due to improvements of its large stake investments in companies including Apple and Bank of America.

 Berkshire’s utility unit reported $1,395 billion in profits. This is an increase of 18% from last year and was fueled by higher tax credits for wind energy and several renewable power projects in the anvil. Two companies that struggled during the pandemic were Precision Castparts aircrafts parts manufacturing company and BNSF railroad both of whom registered large drops in pre-tax revenues.

 Berkshire owns more than 90 companies in various sectors including insurance, furniture, manufacturing and jewelry. It also has major investments in several large and successful conglomerates including American Express, Moody’s and Coco Cola. It also has above 5 % stakes in 5 large Japanese trading houses. It is comfortably placed with $145.7 billion in cash and short-term investments despite repurchases and investments.

Follow us on Google news for more updates and News


This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.