Warren Buffett speaks at the Berkshire Hathaway annual shareholders meeting in Omaha, Nebraska on May 3, 2025.
CNBC
Berkshire Hathaway Operating revenue fell slightly in the second quarter as Warren Buffett’s conglomerate warned that the U.S. steep U.S. tariffs would have negative impacts, reported Saturday.
Berkshire’s operating profit – operating profit of the company’s wholly owned business, including insurance and rail – fell 4% in the second quarter to $1.16 billion. The result was affected by a decline in insurance coverage, while railways, energy, manufacturing, services and retail all made higher profits than they were a year ago.
The Omaha-based conglomerate once again issued a harsh warning about President Donald Trump’s tariffs and its potential impact on various businesses.
“The pace of change in these events, including tensions in the formulation of international trade policies and tariffs, accelerated in the first six months of 2025,” Berkshire said in its revenue report. “There is still a lot of uncertainty about the end result of these events.”
It said: “Rationality may have an adverse impact on our operating businesses and on our investment in stock securities, which may have a significant impact on our future outcomes.”
Buffett’s cash hoard of $344.1 billion is still close to record highs, although slightly below $347 billion at the end of March. Berkshire was the net seller of the stock for the 11th consecutive quarter, with shares selling $4.5 billion in the first six months of 2025.
The group also did not buy back any shares in the first half of 2025, even though the shares fell more than 10% from record highs.
Berkshire wrote about its $3.8 billion loss for Kraft Heinz Stake, the conglomerate’s long-term underperforming. Consumer goods giants have been focusing on spin-offs in their grocery business. Two Berkshire executives resigned as directors of Kraft Heinz’s board of directors in May.
This is the first earnings report since the 94-year-old Buffett announced He resigned as CEO The end of 2025. Berkshire’s vice chairman of non-insurance operations will take over as CEO, while Buffett will continue to serve as chairman of Berkshire’s board of directors.
