Core Insights - Berkshire Hathaway reported strong financial results for Q3 2024, with operating income reaching $13.5 billion, a 34% increase year over year, driven by improved insurance underwriting income and stable performance in other segments [4][10] - The company's cash and short-term investments surged to an all-time high of nearly $382 billion, reflecting robust financial flexibility [6][10] - Berkshire Hathaway did not repurchase any shares during the quarter, contributing to the increase in cash reserves [7] Financial Metrics - Revenue for Q3 2024 was $93 billion, compared to $94.97 billion in Q3 2025, marking a 2% increase and beating expectations [3] - Operating earnings rose from $10.09 billion in Q3 2024 to $13.485 billion in Q3 2025, a 34% increase, also exceeding expectations [3] - Insurance underwriting income saw a significant rise from $750 million to $2.37 billion, a 216% increase year over year [3][4] Business Segment Performance - Income from the BNSF Railroad business increased by 5% year over year, while income from Berkshire Hathaway Energy declined by 9% [5] - Insurance investment income decreased due to a lower interest rate environment compared to 2024 [5] Cash Management - The cash stockpile increased by nearly $40 billion, primarily due to the operating income generated and the absence of share buybacks [7] - There is speculation that Berkshire may have sold some stocks during the quarter, potentially reducing its investment in Apple, as indicated by a decline in the reported cost basis in consumer products stocks [8] Market Reaction - As Berkshire Hathaway reports earnings over the weekend, there was no immediate market reaction, allowing for a thorough analysis by investors before trading [9]
Berkshire's Cash Reaches $382 Billion