Gerard Miller | CNBC
Investors and analysts were bracing for the possibility of Berkshire reporting a strong net income along with weaker operating results.
Berkshire is heavily invested in several companies that have rallied since the broader stock market bottomed in late March. Apple — Berkshire’s biggest common stock holding — has nearly doubled since March 23. JPMorgan Chase is up more than 27% over that time period and Amazon has popped more than 66%.
These public-market gains are expected to have driven Berkshire’s net income to record levels. However, Berkshire’s operating results may not be nearly as impressive.
Berkshire Hathaway owns railroad company BNSF, which could have taken a strong hit from the coronavirus pandemic as much of the economy struggles to reopen. Berkshire’s apparel companies are likely to have struggled during the second quarter as well.
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