- Berkshire Hathaway’s Q2 earnings release included a list of recent stock transactions.
- Among them were details on the sales of Apple and Bank of America stock.
- Buffett now has more invested in cash, treasuries and bonds than he has in common stocks.
- This would tend to suggest that the Oracle of Omaha is fairly bearish on equities at the moment.
- The same factors that make treasuries increasingly appealing today also make Berkshire’s own stock appealing because it is very de-risked compared to the indexes.
Berkshire Hathaway (NYSE:BRK.B) recently released its earnings for the fiscal second quarter of 2024. The company beat revenue expectations by $3.4 billion, and also showed continued growth in operating earnings. GAAP net earnings declined about 8.5% in the quarter because, although Berkshire’s stock portfolio continued making gains, the gains were less than those seen in the same quarter a year before.
Overall, Berkshire’s second quarter earnings easily beat expectations. Net earnings were nearly three times the average analyst estimate as reported in Seeking Alpha Quant, although the estimate might be for operating earnings only. “Operating income per share”–a metric that was not in the release but can be calculated easily using operating earnings and the share count–was $5.48. That also beat the analyst consensus in Seeking Alpha Quant, so Berkshire’s Q2 earnings results easily surpassed expectations, regardless of which “earnings” you’re looking at.
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