5/2/2020, 2:15 PM (Source: TeleTrader)
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Berkshire Hathaway posts Q1 net loss at $49.8B

Berkshire Hathaway announced on Saturday its GAAP net loss in the first quarter of 2020 amounted to $49.75 billion or $30,653 per Class A share.

However, operating income, which Berkshire chief executive Waren Buffet considers a better performance measure, rose 6% on a yearly basis to $5.87 billion.

Asset value dropped 7% quarter-on-quarter to $760 billion. The company's cash pile increased to $137 billion, compared to $128 billion in the fourth quarter of 2019.

Baha Breaking the News (BBN) / MD