On Saturday, the 2nd of November 2019, the Omaha, Nebraska-based American multinational conglomerate, Berkshire Hathaway Inc., 16.45 per cent stakes alongside 30.71 per cent of voting power of which were owned by Berkshire CEO and Chair, Warren Buffet, 90, an American billionaire entrepreneur, business magnet, investor and philanthropist, contemplated as one of the most successful investors across the globe with a net worth of $82 billion as of July 18th, 2019, had revealed its quarterly earnings’ report for Q3, 2019, that had beaten an analysts’ estimate, as an unprecedent upswing in operating profits on several businesses owned by the Omaha-based Conglomerate holding company had outstripped drags of trade torments alongside Buffet’s inability to deploy the US-based conglomerate’s cash.
According to Berkshire’s quarterly earnings’ for Q3, 2019, that released on Saturday (November 2nd), the world’s largest financial service company by revenue with a total of $210.8 billion by December 31st, 2018, Berkshire wrapped up its third quarter with a record $128.2 billion of cash despite a repurchase of $700 million worth of stock in the quarter, while the company’s Q3, 2019, operating earnings’ surged by 14 per cent to $7.86 billion or roughly $4,816 per Class A share, from a figure of $4,189 per share a year earlier, beating an analysts’ estimate of $4,405.16 per share, IBES data from Refinitiv revealed.
Meanwhile, expressing sheer disappointment over Berkshire Hathaway’s net revenue that took a header of 11 per cent to $16.52 billion in the third quarter following the company CEO Buffet’s incapability to deploy cash, an equity analyst at CFRA Research in New York, Cathy Seifert said on Saturday (November 2nd), “There is a growing frustration among investors that the cash hoard is not being effectively deployed.
The flip side is that Berkshire’s stock tends to do well when the economy softens. It’s not surprising that tariffs had a negative impact on its consumer and industrial businesses. ”