Home » Berkshire’s cash reserves set another record!Net profit in the third quarter fell 66% year-on-year

Berkshire’s cash reserves set another record!Net profit in the third quarter fell 66% year-on-year

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On November 6, Buffett’s Berkshire Hathaway’s third-quarter 2021 financial report showed that the company’s operating profit for the quarter maintained growth, but due to the decrease in financial investment income, the company’sNet profitA year-on-year decrease of 66%.

The report pointed out that the main reasons for the sharp decline in net profit were the losses caused by Hurricane Ida, floods in Europe suppressed consumption, and the global supply chain disruption under the influence of the epidemic.

Many investors believe that Berkshire is necessary to make more acquisitions, but as potential acquisition target stock prices continue to rise, Buffett is continuously reducing investment in stocks.

In the season, Berkshire made a big dealRepurchaseOwn stocks are used as a way for the company’s huge cash reserves to function. The report shows that as of the end of the third quarter of this year, Berkshire Hathaway’s cash reserves reached a record 149.2 billion US dollars.

Berkshire’s cash reserves set another record! Net profit in the third quarter fell 66% year-on-year.

(Source: China Business News)


Article source: China Business News

Editor in charge: DF551

Original title: Berkshire’s cash reserves set another record!Net profit in the third quarter fell 66% year-on-year丨A hot stock

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