Warren Buffett's Berkshire Hathaway, like the rest of Corporate America, had a miserable first half of 2020 due to the Covid-19 pandemic. But as the stock market and economy has rebounded, so have the fortunes of the Oracle of Omaha's massive conglomerate.
Berkshire reported strong second quarter earnings on Saturday. Overall profits came in at $28.1 billion in the second quarter, up 7% from the same period a year ago, And Berkshire's net income for the first half of 2021 hit $39.8 billion, reversing a $23.5 billion loss in the first six months of 2020.
Operating profits, a measure that Buffett and many analysts and investors prefer to look at as a true measure of Berkshire's health, rebounded sharply as well. The company posted an operating profit of $6.7 billion in the second quarter, a 21% surge from a year ago.
Yet Buffett, who has a net worth of nearly $105 billion, continues to be cautious.