The company posted a slightly declining operational Result, in part due to lower underwriting income, with operating profit of $ 6.1
4 billion in the quarter ending in June, compared to $ 6.89 billion a year ago. 19659003] The net profit was $ 14 billion.
Berkshire  BERK
also announced that Kraft Heinz's company has not received any financial reports for the first and second quarters, Kraft has filed its 10K filing with the US Securities and Exchange Commission for 2018, which Berksh ire led to a $ 34 million reduction in the book value of its power investment. Kraft is expected to release its first earnings on Aug. 8, as it announced a write-off of more than $ 15 billion last year on its Kraft and Oscar Mayer brands. Emagazine.credit-suisse.com/app/art … = 157 & lang = DE In May, Buffett called the news that Kraft had not released any financial data. Emagazine.credit-suisse.com/app/art … = 157 & lang = DE In the last quarter, Berkshire also has around US $ 442 million. Dollar repurchased, down from the $ 1.7 billion in the previous year 's first quarter.
Previously, the company did not allow share buybacks. The Board changed a rule last year that allows the company to repurchase billions of dollars worth of stock, a practice that has been criticized by some analysts as stock price inflation. In the first six months of this year, the company has repurchased $ 2.1 billion.
Warren Buffet is known as an investing guru who recommends diversification, and Berkshire certainly does not have all the eggs in one basket. As of June 30, Berkshire had $ 18.7 billion in American Express shares, $ 50.5 billion in Apple, $ 27.6 billion in Bank of America, and $ 40.3 billion in Coca -Cola worth $ 20.4 billion and Wells Fargo worth $ 20.5 billion.