On Monday, Berkshire Hathaway shares experienced a slight decline, despite reaching an all-time high after reporting strong earnings from Warren Buffett’s conglomerate over the weekend.
The Class A shares of Berkshire fell by 0.7%, reaching an intraday high of $647,039 before settling around $625,000. Similarly, the Class B shares also decreased by 0.7%, reaching an intraday high of $430 and last trading around $415.
Over the weekend, Berkshire announced fourth-quarter operating earnings of $8.481 billion, a 28% increase from the year-ago period, driven by significant gains in its insurance business. This profitability was attributed to the performance of its businesses across insurance, railroads, and utilities.
Berkshire’s cash reserves reached record levels, with $167.6 billion in cash during the fourth quarter, surpassing the previous record of $157.2 billion held in the prior quarter.
Source (CNBC)
