The conglomerate’s operating earnings surpassed estimates as revenue grew 10% year-over-year amid reduced cash reserves.
Berkshire Hathaway posted Q2 operating earnings of $12.98 billion, a 16% increase from the same period last year. Revenue reached $101.8 billion, up 10% year-over-year, exceeding analyst expectations.
The results reflect stronger performance across its diversified holdings, while the company also announced higher share buybacks and a notable reduction in its cash reserves. Prior-year Q2 earnings stood at $11.19 billion, with revenue at $92.5 billion.
Shares are positioned in a buy zone following the report, as market sentiment turns bullish on the conglomerate’s outlook.