Warren Buffett’s firm stock climbs all-time high with strong earnings

By Ovunc Kutlu

ISTANBUL (AA) - American business magnate Warren Buffett's conglomerate Berkshire Hathaway saw its stock price climb to an all-time high on Monday due to strong financial results.

Berkshire Hathaway's Class A shares jumped to as high as $555,556 at 2.12 p.m. EDT for a 4.1% gain after closing Friday at $533,600.

The firm's Class B shares soared to $364.62 at 2.15 p.m. EDT -- a 4.2% daily increase after finishing last week at $349.99.

The US-based multinational conglomerate holding company posted $35.9 billion in net earnings attributable to Berkshire Hathaway shareholders in the first quarter of this year, according to its financial results statement released Saturday.

This figure is a strong recovery from the $43.6 billion loss recorded in the same period of 2022.
The company had $71.4 billion in net earnings for the first six months of 2023 -- also a firm recovery from a $38 billion loss from the same period of last year.

With strong results and gains in stock prices, Chairman and CEO Buffett saw his net worth rising $4.8 billion, or 4.1%, to more than $122 billion as of 2.34 p.m. EDT on Monday. He ranked fifth on Forbes' Real-Time Billionaires List at the time.