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The Omaha-based company called the losses temporary, but acknowledged that it could not reliably predict when many of the companies it controlled would return to normal operations or when consumers would return to past consumption patterns.
Buffett stated in his report that the company’s performance must be measured in terms of its operating profit, which does not include investments and is less prone to sudden fluctuations.
Berkshire Hathaway’s operating profit increased from 5.55 billion in the first quarter. USD a year earlier to 5.9 billion. USD
The drop in net profit – from 21.7 billion. Net profit of USD in the first quarter of 2019 to 49.75 billion. The net loss of the US dollar in January-March this year was primarily due to the decline in the value of the huge investment portfolio in Berkshire Hathaway caused by the coronavirus.
Berkshire Hathaway has invested in a wide range of companies in a variety of sectors, including energy, transportation, insurance, and technology.
Buffett, who turns 90 on August 30, is considered one of the smartest investors in the world and is often referred to as the “Oracle of Omaha.”
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