Berkshire Hathaway reported remarkable financial growth in Q1 2024, with revenue rising by 5% year-on-year (YoY) and operating income skyrocketing by 39% YoY. Much of this success stems from inflated insurance premiums and increased utility and energy revenues.
Simultaneously, the company’s liquid assets reached a record high of $189 billion, primarily from dexterous equity sales, especially Apple shares. Predictions suggest that, powered by Warren Buffet’s keen investment instincts, this may climb to the $200 billion boundary by the quarter’s end.
However, there’s been a dip in Berkshire Hathaway’s rate of stock buybacks, as the firm expands its equity stakes in various financial entities. Wall Street analysts discern a transition in investment strategy, from traditional stock repurchases to acquisitions in the financial sector.
Despite an escalating apprehension regarding Berkshire’s growing cash reserves, the company’s venture capital endeavors show significant potential. Investments in the Bank of America, Coca-Cola, and Occidental Petroleum have reached nearly $220 billion, underscoring potential for future profits.
The stock performance of Berkshire Hathaway has also been robust this year, outpacing the overall U.S. stock market.
Berkshire Hathaway’s impressive 2024 performance
Since the start of 2024, their shares have leapt approximately 12%, beating the S&P 500’s 7% rise. Analysts remain optimistic about further growth as the year advances.
With the year’s halfway mark passed, Berkshire Hathaway has shown no signs of decelerating. It posted impressive mid-year results with revenue of $108.6 billion, reflecting a 9% YoY increase, and profits surging by a stunning 45% YoY to reach $15.6 billion.
On reaching the final quarter, Berkshire Hathaway rounded off a standout year. The company reported total revenue of $119.6 billion, representing an 11% YoY increase. The profit figure rose by an exceptional 47% YoY, reaching a record $17.9 billion due largely to robust real estate and healthcare sectors’ performance.
