Berkshire Hathaway reversed a profit of $21.66bn in the first quarter of last year to a loss of $49.7bn as it took a hit on the value of its investments as equity markets fell. AP Photo
Berkshire Hathaway reversed a profit of $21.66bn in the first quarter of last year to a loss of $49.7bn as it took a hit on the value of its investments as equity markets fell. AP Photo

Markets

Warren Buffett's Berkshire Hathaway reports near-$50bn loss as value of investments drops

The company still made an operating profit of $5.87bn and sits on a $137bn cash pile

Associated Press

May 02, 2020