The Strategist

Buffett's company reports record operating profit for the quarter

08/07/2023 - 09:52

The operational profit for the most recent quarter at Berkshire Hathaway, owned by Warren Buffett, surpassed $10 billion for the first time.

Fortune Live Media
Fortune Live Media
According to the company's reports, the 92-year-old billionaire Warren Buffett's Berkshire Hathaway made an operating profit of $10.04 billion in the second quarter of 2023.

Berkshire Hathaway's operational earnings set a record for the quarter and surpassed $10 billion for the first time ever. In comparison to the same quarter in 2022, operating profit for the period increased 6.6%.

Berkshire Hathaway is required to disclose the value of the substantial shares it owns, such as those in Apple, American Express, and Bank of America, and price changes are reflected in the results. Their profit increased to $35.91 billion as the price of the shares grew. For the same time period in 2022, the business experienced a total loss of $43.6 billion. According to the FT, Berkshire Hathaway's portfolio is worth $35 billion.