2023-05-07 04:03:51
Warren’s Berkshire Hathaway, Inc. Buffett reported on Saturday (May 6) that the company posted a net profit of $35.5 billion in the first quarter of 2023, corresponding to January. – March, reflecting the rise in stocks of companies such as Apple Inc. at Berkshire. Hathaway holds shares While investment profits soar and the recovery of auto insurer Geico (Geico) boost profits
Berkshire Hathaway has accelerated its share buyback plan. With $4.4 billion of stock buybacks, while reducing stakes in some companies like Chevron Corp, it remains a majority shareholder.
The report states that Part of the gains reflected a 27% jump in Apple’s share price. Make the current company Berkshire. Hathaway holds a $151 billion stake in Apple.
At the same time, Berkshire’s earnings Hathaway was boosted by Geiko turning profitable in the first quarter of this year. following 6 consecutive quarters of losses
However, Berkshire Hathaway sold shares of some companies, including Chevron, with its stake down 28 percent to $21.6 billion. But Chevron’s stock price dropped just 9% on the news.
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