Berkshire Hathaway Announces Mixed Report

Warren Buffet also bought the dip on AAPL this quarter

Assistant Editor
May 2, 2022 at 10:23 AM
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Warren Buffet's Berkshire Hathaway Inc (NYSE:BRK) is in the spotlight today, after the company announced a mixed first-quarter report, with better-than-expected earnings of $3.18 per share alongside revenue of $68.83 billion, which came in below the estimated $69.15 billion. Net earnings dropped more than 53% year-over-year, amid a sharp downturn in the company's insurance underwriting business. Separately, Warren Buffet bought another $600 million worth of Apple (AAPL) stock in the first quarter, and today BRK announced a 9.5% stake in Activision Blizzard (ATVI). 

On the charts, BRK has been slipping since its March 29 record high of $362.10, and is fresh off its fourth consecutive weekly loss. Today, the equity is down 0.6% to trade at $321.04, and looking to close below its 100-day moving average for the first time since December. 

Analysts have yet to chime in on the earnings event. The majority lean bearish, with four of the five in coverage carrying a lukewarm "hold" rating. 

 




 
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