Warren Buffett’s Berkshire posts record net loss of $50 billion in March quarter

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Warren Buffett's Berkshire posts record net loss of $50 billion in March quarter
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Berkshire’s first-quarter web loss totaled $49.75 billion, or $30,653 per Class A share, reflecting $54.52 billion of losses from investments, primarily widespread shares

twitter-logo Reuters        Final Up to date: Could 2, 2020  | 19:14 IST

Warren Buffett’s Berkshire Hathaway Inc posted the next working revenue on Saturday, however the coronavirus pandemic pummeled its widespread inventory investments and led to a document web loss.

Berkshire’s first-quarter web loss totaled $49.75 billion, or $30,653 per Class A share, reflecting $54.52 billion of losses from investments, primarily widespread shares. A 12 months earlier, web earnings totaled $21.66 billion, or $13,209 per share.

Additionally Learn: Warren Buffett to handle Berkshire Hathaway AGM on Could 2; this is full schedule

Quarterly working revenue, which Buffett considers a greater efficiency measure, rose 6% to $5.87 billion from $5.56 billion.

An accounting rule requires Berkshire to report unrealized inventory losses and features with earnings. This causes big swings in Berkshire’s web outcomes that Buffett considers meaningless.

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