Berkshire Hathaway shares rose on Monday to their highest level since Warren Buffett announced his departure as chief executive in May 2025, after his successor Greg Abel began spending the conglomerate’s huge cash pile and financial results topped analysts’ expectations.
Financial Results
Cash fell to $364.7 billion on June 30 from a record $380.2 billion three months earlier, Berkshire said in its quarterly report on Saturday. Berkshire repurchased $4.5 billion of its own stock and bought $23.5 billion of other stocks during the second quarter, including a $10 billion investment in Google and YouTube parent Alphabet.
The Omaha, Nebraska-based conglomerate spent at least $10.1 billion more cash in July on stock buybacks and the acquisition of home builder Taylor Morrison. Second-quarter operating profit rose 16% to $12.98 billion, as gains from railroad, service and some insurance businesses offset rising accident claims and advertising spending at the Geico car insurer.
Net income more than doubled to $25.67 billion, including paper gains on investments such as Alphabet and Apple. Revenue grew 10%, following more than two years of largely stagnant growth.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
