"The earnings impact of higher interest rates on investment income is offsetting the economic softness caused by those same rates," he added. Investors closely watch Berkshire because of Buffett's reputation, and because results from the Omaha, Nebraska-based company's operating units often mirror broader economic trends. Berkshire repurchased $1.4 billion of stock in the quarter, down from $4.4 billion from January to March. Net results included $25.9 billion of largely unrealized gains from investments and derivatives, which accounting rules require Berkshire to report. Overall profit from Berkshire Hathaway Energy, where Berkshire has a 92% stake, was little changed at $785 million.

Source: Forbes August 05, 2023 16:28 UTC