Tuesday , August 16 2022

Warren Buffett: Berkshire Hathaway Warren Buffett's jobs make a $ 21.70 billion profit in Q1


Warren Buffett Berkshire Hathaway on Saturday posted net earnings of $ 21.70 billion, or $ 13209 per share A and $ 8.81 per share B, for the quarter ending March 2018. The company had posted a net loss of $ 1.14. billion for the same quarter last year.

During the quarter, gains from investments and derivative contracts jumped to $ 20.32 billion against a $ 8.02 billion loss in the same quarter last year.

“We believe that investment and derivative gains / losses, whether realized from disposals or settlements or unrealized from changes in market prices of equity securities, are generally meaningless in understanding our stated outcomes or evaluating our economic performance. businesses. The gains and losses have caused them and will continue to cause significant volatility in our periodic earnings, ”Berkshire Hathaway said in a statement.

The result excluded Kraft Heinz's earnings. Berkshire currently owns 325,442,152 shares of Kraft Heinz's common stock, representing 26.7 per cent of shares owed.

In a statement, Berkshire Hathaway said, “From May 3, 2019, Kraft Heinz has not filed his 2018 Form 10-K with the Securities and Exchange Commission. In addition, Kraft Heinz has not made its financial statements for the first quarter of 2019 available to Berkshire. Accordingly, Berkshire does not have the necessary financial information to determine its share of the other comprehensive income and gains from Kraft Heinz for the first quarter of 2019. As a result, Berkshire's first quarter 2019 earnings and other comprehensive income are the same. exclude amounts of such. "

Berkshire will record its share of Kraft Heinz's earnings and other comprehensive income for the three months ending 31 March, 2019 during the period when such information is available.

After an equity after tax return method by Kraft Heniz, $ 234 million was in the first quarter of 2018.

Berkshire said that operating profit, which Buffett regards as a better performance measure, had increased by 5 per cent to $ 5.56 billion. The operating profit was $ 5.29 billion, or $ 3,215 per share, in the same period last year.

Part of Berkshire Hathaway District A closed for $ 3,27,765 on Friday, while Class B shares traded at $ 218.60.

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