However, the company managed to improve its operating results due to the good performance of its reinsurance activity, in addition to interest rates and the strengthening of the dollar.
Investors often closely monitor the behavior of Berkshire accounts because of the reputation of buffett and because the results of its dozens of operating units in insurance, rail manufacturing, energy and retail tend to reflect broader economic trends.
Berkshire’s net loss was $29,754 per Class A share, compared with net profit of $28.1 billion, or $18,488 per Class A share a year earlier. While quarterly operating profit increased 39% to $9.28 billion, or about $6,326 per share of Class A, compared to $6.69 billion, or $4,424 per share of Class A Class A from a year ago.
Net results vary wildly because the Omaha, Nebraska-based conglomerate must report investment gains and losses on its stock holdings, even if it doesn’t buy or sell anything.
buffett iHe urges investors to ignore the fluctuations and Berkshire will make money if the stock rises over time. In 2020, for example, Berkshire lost nearly $50 billion in the first quarter as the COVID-19 pandemic took hold, but made $42.5 billion for the full year.
Source: Ambito
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