Berkshire Hathaway Posts Record Quarterly Operating Profit
Warren Buffett's Conglomerate Reports Strong Earnings
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Berkshire Hathaway Inc. (BRK-B) reported strong operating earnings on Saturday, tracking the actual profit that its array of businesses produce. The conglomerate led by billionaire Warren Buffett posted its highest ever quarterly operating profit.
The company's operating earnings came in at $9.2 billion, up from $7.7 billion in the same period last year. Berkshire Hathaway's revenue also rose, from $242.6 billion to $256.3 billion.
Buffett has warned that Berkshire Hathaway's days of eye-popping gains are over. He said there are essentially no candidates for acquisitions that meet his criteria. However, the company's latest results show that it is still able to generate strong profits from its existing businesses.
Berkshire Hathaway's stock price rose by more than 2% on Monday following the release of its earnings report. The company's shares are up by more than 15% so far this year.
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