## Berkshire Hathaway’s Q2 Earnings: Tariffs and Transition
Here’s a quick rundown of Berkshire Hathaway’s latest earnings report:
- **Operating Earnings Dip:** Berkshire’s operating profit decreased by 4% year-over-year to $11.16 billion in Q2, impacted by a decline in insurance underwriting.
- **Tariff Warning:** The company, under Warren Buffett, reiterated its concerns about the negative impacts of U.S. tariffs on its various businesses and investments.
- **Uncertainty Ahead:** Berkshire warned that the “pace of changes” in international trade policies and tariffs has accelerated, creating “considerable uncertainty” about future results.
- **Cash Hoard Remains High:** Buffett’s cash pile is still near a record high at $344.1 billion, though slightly down from the previous quarter.
- **Net Seller of Stocks:** Berkshire continued to sell stocks, marking the 11th consecutive quarter of net selling, dumping $4.5 billion in equities in the first half of 2025.
- **No Stock Repurchases:** Despite a stock price decline, Berkshire did not repurchase any shares in the first half of 2025.
- **Kraft Heinz Write-Down:** A $3.8 billion loss was written down from its Kraft Heinz stake, and two Berkshire executives resigned from the Kraft Heinz board.
- **Buffett’s Transition:** This is the first earnings report since Buffett announced his plans to step down as CEO at the end of 2025, with Greg Abel set to take over.
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Source: https://www.cnbc.com/2025/08/02/berkshire-hathaway-brk-earnings-q2-2025.html