Berkshire Hathaway (BRK) Revenues Q1 2021

Warren Buffett.

Gerald Miller | CNBC

Berkshire HathawayOperating income recovered as the conglomerate business recovered from the pandemic blow. Warren Buffett aggressively repurchased Berkshire shares in the first quarter, but at a slightly slower pace.

Berkshire’s first-quarter operating profit was $ 7,018 million, an increase of 20% from $ 5,871 million in the year-ago quarter. A collection of conglomerate businesses such as insurance, transportation, utilities, retail and manufacturing showed signs of recovery as the economy resumed.

In the first quarter, the company repurchased $ 6.6 billion in Berkshire shares after a record $ 24.7 billion repurchase last year instead of trading. The conglomerate recorded a $ 9 billion share buyback in the fourth quarter.

Berkshire Hathaway’s cash pile increased approximately 5% during the quarter to over $ 145.4 billion. It is just below the record level seen at the end of the third quarter of last year.

Buffett is on the sidelines as competition in the trading environment intensifies. Legendary investors said at last year’s annual meeting that they hadn’t seen anything attractive to trigger an “elephant-sized acquisition.”

Berkshire equity investment also recorded a solid increase, up approximately $ 2.8 billion in the previous quarter. However, Buffett told shareholders not to focus on quarterly fluctuations in investment profits and losses.

“The amount of return on investment (loss) in a particular quarter is usually meaningless, which can be very misleading for investors with little or no knowledge of accounting rules, Berkshire said in a statement. We provide earnings per share figures. ”

As of the end of March Apple It was the only largest stake in Berkshire’s portfolio and was worth more than $ 110 billion.Other top holdings American Express, Bank of America And Coca Cola.

Thanks to the repurchase program and the recovery of its operating operations, Berkshire “B” stock In 2021, more than 18% recovered to a record high.

According to Refinitiv, total conglomerate revenue was $ 64.6 billion in the previous quarter, above Street’s estimate of $ 63.66 billion.

Berkshire Annual Shareholders’ Meeting Kick off on saturday At 12:30 pm Eastern Standard Time in Los Angeles, both Buffett and Vice President Charlie Munger attended. This event will be held for the second time with virtually no participants.

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Berkshire Hathaway (BRK) Revenues Q1 2021

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