Berkshire Hathaway (BRK.B-US) announced its second-quarter and first-half financial results on the 6th. Affected by the market downturn, the investment loss in the second quarter was 53.04 billion US dollars (the same below), resulting in an after-tax loss of 43.37 billion yuan. B shares (Class B) lost 19.84 yuan per share; the overall investment loss in the first half of the year was 68.897 billion yuan, the after-tax loss was 38.29 billion US dollars, and the B shares lost 17.3 yuan per share.
In the second quarter, Berkshire’s insurance and public utilities revenue was 76.18 billion yuan, an increase of 10.2% year-on-year. The net loss of investment and derivative products was 53.04 billion yuan, a profit of 21.4 billion yuan compared with last year, and a loss of 43.75 billion yuan after tax. Compared with last year’s profit and loss, B shares lost $19.84 per share.
In the first half of the year, Berkshire’s revenue was 146.99 billion yuan, an annual increase of 9.9%, and the net investment loss was 54.62 billion yuan, which was a loss from last year’s profit and a loss after tax of 38.29 billion yuan. Loss of 17.3 yuan.
Although investments have suffered losses due to market volatility, Berkshire believes that these changes are irrelevant. The company statement said that investment gains and losses in any quarter are generally meaningless, and the earnings per share figures may be ignorant of financially literate investments. People are greatly misled.
The stock market fell into a bear market in the second quarter of this year,S&P 500 IndexThe quarterly decline was more than 16%, the largest quarterly decline since the outbreak of the epidemic in 2020. In total, US stocks fell 20.6% in the first half of the year, the largest decline since 1970.
In terms of business performance, the operating profit of Berkshire Insurance, Railway and Public Utilities in the second quarter was 9.283 billion yuan, an annual increase of 38.8%; in the first half of the year, the operating profit was 16.323 billion yuan, an annual increase of 19%.
In the second quarter, Berkshire spent US$1 billion to repurchase treasury shares, and the repurchase amount in the first half of the year reached US$4.2 billion. However, the scale of the repurchase in the second quarter was slower than that in the first quarter. share repurchase. In addition, cash reserves in the first half of the year were as high as US$105.4 billion.