Berkshire Earnings Fall. Warren Buffett Slashes Apple Stake Again.

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Berkshire Earnings Fall. Warren Buffett Slashes Apple Stake Again.

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Warren Buffett's Berkshire Hathaway (BRKB) reported third-quarter earnings on Saturday, with operating profit falling more than expected. The conglomerate's cash pile swelled to a new record as it ...

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Warren Buffett Slashes Apple Stake Again.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-02 20:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/news/berkshire-hathaway-earnings-q3-warren-buffett-apple-stock/><strong>Blockhead</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett's Berkshire Hathaway (BRKB) reported third-quarter earnings on Saturday, with operating profit falling more than expected. The conglomerate's cash pile swelled to a new record as it ...</p>\n\n<a href=\"https://www.investors.com/news/berkshire-hathaway-earnings-q3-warren-buffett-apple-stock/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BRK.B","symbol_name":"伯克希尔B","start_time":0,"source_url":"https://www.investors.com/news/berkshire-hathaway-earnings-q3-warren-buffett-apple-stock/","article_id":"2480293148","we_media_id":null,"thumbnails":["https://www.investors.com/wp-content/uploads/2024/05/Stock-warrenbuffett-2024-03-shutt-150x150.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480293148","pubTimestamp":1730552310,"sourceInfo":{"source_id":"investor_business_daily_highlight","name":"Investor’s Business Daily"},"weMediaInfo":null,"summary":"Berkshire Hathaway earnings fell on an operating basis and put buybacks on hold. Warren Buffett slashed Apple holdings again.","collect":0,"end_time":0,"defaultTopTitle":"investors.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BRK.B":"伯克希尔B","AAPL":"苹果","BRK.A":"伯克希尔"},"translate_title":"伯克希尔盈利下降。Warren Buffett再次削减苹果股份。","themeId":"f4b9c77dd921845b21fc5687e0dcf41e","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AAPL":1,"BRK.A":1,"BRK.B":1},"content_text":"Warren Buffett's Berkshire Hathaway (BRKB) reported third-quarter earnings on Saturday, with operating profit falling more than expected. The conglomerate's cash pile swelled to a new record as it slashed its stake in Apple (AAPL) further. Buffett halted Berkshire stock buybacks.\n\n\n\n↑\nX\n\n\n\n\nPalantir Earnings Due As Tech Stocks Stumble\n\n\nSee All Videos\n\n\n\n\nNOW PLAYING\nPalantir Earnings Due As Tech Stocks Stumble\n\n\n\n\nBerkshire Hathaway Earnings\nBerkshire Hathaway earnings fell 6% on an operating basis vs. a year earlier to $to $10.09 billion.\nAnalysts had expected a 1% decline in operating earnings in the third quarter, according to FactSet.\nBerkshire Hathaway's operating earnings rose about 16% in Q2 and 40% in Q1, fueled by insurance underwriting and insurance interest income. Net income fell over both quarters.\nWarren Buffett advises investors to focus on operating earnings, which show how the collection of businesses that Berkshire actually runs are doing. Net income includes stock investment gains or losses, which can be volatile, skewing the financial picture.\nIn addition to major insurance businesses, including Geico, Berkshire Hathaway owns utilities, BNSF railroad and more.\nBerkshire stock undercut the 50-day moving average in Friday's stock market trading. But it shows a flat base with a 484.2 buy point, according to MarketSurge pattern recognition.\n\nStocks Limp Into Election Week; Dow To Add Nvidia\n\nShare Buybacks, Cash Levels\nIn Q3, Berkshire Hathaway didn't buy back any of its own stock. That compares with share repurchases worth $345 million in Q2 2024, $2.6 billion in Q1 2024 and $2.2 billion in Q4 2023.\nBuffett is a legendary value investor. In the first half of 2024, he scaled back Berkshire stock buybacks as shares rose.\nWarren Buffett Sells More Apple Stock\nBerkshire Hathaway sold 100 million Apple in Q3, leaving it with 300 million shares. That's according to the company's 10-Q, which came out on Saturday along with the earnings release.\nThe 25% cut in Berkshire's Apple stock stake followed a near-50% reduction in the second quarter. Buffett's stake is down from 905 million Apple shares at the start of 2024.\nMeanwhile, Warren Buffett sold about $9 billion in Bank of America (BAC) shares in the quarter. Earlier filings had already shown that the Buffett-led conglomerate sold Bank of America stock significantly through Q3 and has continued to do so in the fourth quarter.\nOverall, Berkshire sold about $36 billion in equities overall, mostly Apple stock and BofA. The conglomerate also was a net seller in the first half of the year, mostly Apple.\nBank of America and Apple are among the biggest holdings in Berkshire Hathaway's stock portfolio, both by number of shares and market value.\nBerkshire's Cash Hoard\nBerkshire's cash hoard swelled by about $48 billion to $325.21 billion. That reflects the Apple-led equity sales, the $10.1 billion in operating profit and the lack of any Berkshire buybacks.\nBerkshire's cash levels had soared to $277 billion in Q2 from $189 billion in Q1.\nYOU MIGHT ALSO LIKE:\nWhy This IBD Tool Simplifies The Search For Top Stocks\nCatch The Next Big Winning Stock With MarketSurge\nBest Growth Stocks To Buy And Watch\nIBD Digital: Unlock IBD's Premium Stock Lists, Tools And Analysis Today\nWarren Buffett Stocks: What's Inside Berkshire Hathaway's Portfolio?","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"Shareholding Changes","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}