Berkshire's operating earnings jump 34%, Buffett buys back no stock and raises cash hoard to $381 billion

Berkshire Hathaway, led by Warren Buffett, reported a significant rebound in operating profit and a massive cash stockpile of $381.6 billion. Despite a 34% increase in profits, Buffett didn't buy back any shares, and the company's performance trailed the S&P 500. Berkshire sold more stock than it bought, making gains of over $10 billion. The company's biggest acquisition since 2022 was the purchase of OxyChem for $10 billion. With Buffett stepping down as CEO, Greg Abel will take over, and investors are reacting to the change. Berkshire has flexibility and tough choices ahead, with Buffett's legacy and strategy still influencing the company's future.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.