Berkshire reports $44B loss as value of investments falls
Warren Buffett’s Berkshire Hathaway reported a $43.76 billion loss in the second quarter as the value of the company's investments plummeted,
Berkshire said Saturday that a largely unrealized $53 billion decline in the value of its investments forced it to report a loss of nearly $44 billion,
It's around $29,754 per Class A share. That is down from $28.1 billion, or $18,488 per Class A share, a year ago.
Buffett has long said he believes Berkshire’s operating earnings are a better measure of the company’s performance
Because they exclude investment gains and losses, which can vary widely quarter to quarter.
Berkshire said its revenue grew more than 10% to $76.2 billion in the quarter as many of its businesses increased prices.
Berkshire's many companies still performed well, suggesting the overall economy is weathering the pressure from inflation and rising interest rates.