Buffett’s Berkshire Hathaway Posts Record Operating Profit, Grows Cash to $277 Billion

Published on August 3, 2024

Warren Buffett’s Berkshire Hathaway has posted a record quarterly operating profit and boosted its cash holdings to nearly $277 billion after selling roughly half its stake in Apple. Berkshire Hathaway’s second-quarter earnings report, released on Aug. 3, shows $11.6 billion in operating earnings for the April-June period, a 15 percent quarterly increase and a record for the Omaha, Nebraska-based company. Buffett’s cash stake jumped from $189 billion in the first quarter to a record $276.9 billion in the three months ending on June 30, largely because Berkshire sold a net $75.5 billion of stocks in the quarter, including about half its stash of Apple shares. Berkshire started the year with $174.3 billion in Apple stock, trimming it to $135.4 billion by the end of the first quarter, paring it down further to $84.2 billion as of June 30....

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