Berkshire Hathaway's new CEO Greg Abel spends a chunk of the company's massive cashpile
- Berkshire Hathaway's new CEO Greg Abel invested $10 billion in Google's parent company and repurchased about $4.5 billion of its shares.
- The company's cash holdings decreased from nearly $400 billion to $365.5 billion by the end of the second quarter.
- Berkshire added over $21 billion worth of stocks to its portfolio, but the specific stocks will be disclosed later.
- Berkshire's profit more than doubled to $25.667 billion, driven by a significant gain in investment value.
- Geico's underwriting profits fell 45%, raising concerns among investors.
Berkshire Hathaway’s new CEO Greg Abel spent a significant chunk of the company’s massive pile of cash as it invested $10 billion in Google’s parent company and repurchased about $4.5 billion of its shares.
The conglomerate reported that its cash holdings had shrunk to $365.5 billion from nearly $400 billion at the end of March. Berkshire’s report suggested that it had added more than $21 billion worth of commercial, industrial and other stocks to its portfolio, but the earnings report doesn’t name the stocks it bought.
Berkshire's bottom line profit more than doubled to $25.667 billion, or $17,868.44 per Class A share, on a big paper gain in the value of its investments. However, Geico’s performance was a concern because its underwriting profits fell 45% and lagged far behind other big auto insurers.
Analysts noted that the amount of shares Berkshire repurchased should encourage investors, although the repurchase was on the low end of what had been expected, with predictions ranging from $5 billion to $11 billion.
伯克希尔·哈撒韦新任首席执行官格雷格·阿贝尔花费公司巨额现金
伯克希尔·哈撒韦新任首席执行官格雷格·阿贝尔花费了公司巨额现金，投资了100亿美元于谷歌母公司，并回购了约45亿美元的股票。
该集团报告称，其现金持有量从3月底的近4000亿美元降至3655亿美元。伯克希尔的报告表明，它新增了超过210亿美元的商业、工业及其他股票投资，但财报中未提及具体购买的股票。
伯克希尔的净利润超过256.67亿美元，或每股A级股票17868.44美元，主要得益于投资价值的大幅增长。然而，Geico的表现令人担忧，因为其承保利润下降了45%，远远落后于其他大型汽车保险公司。
分析师指出，伯克希尔回购的股票数量应当鼓励投资者，尽管此次回购低于预期，预期范围在50亿至110亿美元之间。