Berkshire Hathaway's 2Q Operating Profit Up 7%... Impact of Apple Stock Surge

Warren Buffett, the investment master known as the "Sage of Omaha," led the American investment company Berkshire Hathaway to achieve a second-quarter operating profit that increased by about 7% compared to the same period last year.

Warren Buffett, Chairman of Berkshire Hathaway, USA
[Photo by Yonhap News]

According to Berkshire Hathaway's announced second-quarter results for this year, the company's operating earnings for the second quarter reached $10.043 billion (approximately 13 trillion KRW), marking a 6.6% increase compared to the same period last year. Net income was $35.912 billion (approximately 47 trillion KRW), a significant improvement from a loss of $43.621 billion (approximately 57 trillion KRW) during the same period last year.

This strong performance is attributed to a sharp increase in investment returns by Berkshire Hathaway. In particular, Berkshire Hathaway, which holds a large amount of Apple stock, saw the value of its Apple shares rise to approximately $177.6 billion (about 232 trillion KRW) as Apple's stock price surged about 18% in the second quarter. Unrealized gains are estimated to be around $26 billion (about 34 trillion KRW).

Cash holdings at the end of the second quarter stood at $147.377 billion (approximately 193 trillion KRW), up about 13% from $130.616 billion (approximately 171 trillion KRW) in the previous quarter. This is the second-highest level since 2014.

Earlier, Berkshire Hathaway's Class A shares closed at $541,000 (approximately 700 million KRW) on the 3rd (local time), surpassing the previous record high of $539,180 set in March last year. Class A shares have risen about 14% so far this year. Compared to when Chairman Buffett first founded the company in 1965, the shares have increased by 25,000 times.

This content was produced with the assistance of AI translation services.