Warren Buffett's Berkshire Hathaway's 2024 Q2 Financial Report Revenue, Profits and Holdings Update

TapTechNews August 3rd news, Berkshire Hathaway, owned by Warren Buffett, released its fiscal 2024 second-quarter financial report. The revenue was 93.653 billion US dollars (TapTechNews note: currently about 672.971 billion yuan), compared with 92.503 billion US dollars in the same period last year, and the market expected 91.09 billion US dollars.

The Q2 net profit of Berkshire Hathaway was 30.35 billion US dollars (currently about 218.089 billion yuan), compared with 35.912 billion US dollars in the same period last year, and the market expected 17.786 billion US dollars. The second-quarter operating income rose to 11.6 billion US dollars. The EPS in Q2 2024 was 21,122 US dollars, compared with 24,775 US dollars in the same period last year, and the market expected 15,006 US dollars.

The cash reserve of Berkshire Hathaway Class A at the end of the second quarter was 276.9 billion US dollars, setting a new record high, and it was 189 billion US dollars at the end of the first quarter.

As of June 30, among the total fair value of equity investment, 72% was concentrated in American Express, Apple Inc., Bank of America, Chevron, and Coca-Cola. According to the 10-Q report submitted by Berkshire Hathaway, the company significantly reduced its holding of Apple shares from 789 million shares in the first quarter to about 400 million shares in the second quarter, a decrease of nearly 50%.

Currently, Berkshire Hathaway holds about 2.6% of Apple's shares, which is worth about 88 billion US dollars based on the closing price of 219.86 US dollars last Friday.减持 of Apple shares is not unexpected, but the scale of the减持 is surprising.