Berkshire Hathaway reports earnings jolt amid Buffet's succession announcement
Berkshire reported the total earnings of USD 20.8 billion in the first six months of the year, which has fallen almost 8.8 per cent from the previous year during the same period, as per the reports.
On the other hand, Berkshire's underwriting businesses earned a total amount of USD 2.53 billion, which is also significantly lower than the previous year. Berkshire's underwriting businesses consist of GEICO, private passenger, and automobile insurance.
Reportedly, Berkshire also witnessed a sudden fall in cash holdings for the first three months of the year. Moreover, the firm was standing at USD347 billion at the company's Annual Shareholders Meeting, which was held in May at Omaha, Nebraska in which Buffett also discussed his succession plans, trade policies, and market volatility.
While writing about the macroeconomic conditions and geopolitical events, Berkshire also pointed to the global economic uncertainty, in the aftermath of the Trump administration's tariff policies, by stating, 'We are currently unable to reliably predict the future, timing, or magnitude of potential economic consequences of any such changes.'
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