Berkshire Hathaway’s exceptionally deep pockets are getting shallower under its new CEO, Greg Abel.
In its latest earnings report on Saturday, the company said it ended June with $365.5 billion in cash and Treasury bills, a noticeable dip from the $397.4 billion recorded at the end of March.
The company’s net income, meanwhile, reached $25.6 billion, more than double the $12.3 billion recorded the same time last year.
The company said the cash went toward repurchasing its own shares and buying stocks. The last time Berkshire Hathaway bought more stocks than it sold was in 2022. The Coca-Cola Company, American Express, Bank of America, Alphabet…
