Berkshire Hathaway made a huge profit in Q1 2021
Berkshire Hathaway returned to net profit in the first quarter of 2021, after a massive loss a year earlier,and operating profit continued to rise. This was apparent Saturday afternoon from the quarterly figures of the investment vehicle headed by Stock Exchange guru Warren Buffett
Below the mark, Berkshire reported a net profit of $ 11.7 billion in the first quarter. A year earlier, Berkshire suffered a loss of just under $ 50 billion. While there was a huge investment loss last year, there was a profit last quarter.
Last year Buffett warned that investment gains and losses give a distorted picture of the real state of affairs. In fact, these figures can even be” extremely misleading”, warned the stock market guru.
According to Buffett, investors can better look at the development of the operating result, as this gives the best picture of how the company is actually developing.
Operationally, annual earnings rose from 5.9 billion to 7.0 billion dollars. All parts of Berkshire made operational profits last quarter.
The annual Berkshire shareholders ‘ meeting will also take place today. Because of corona, it’s a virtual meeting. Both Buffett and Charlie Munger are here today. In order for the latter to be present, the meeting will not take place in Omaha, but in Los Angeles.