Buffett's Berkshire posts nearly $50 billion loss as coronavirus causes pain

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Buffett's Berkshire posts nearly $50 billion loss as coronavirus causes pain
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Warren Buffett's Berkshire Hathaway Inc is being hit hard by the coronavirus pandemic, posting a record quarterly net loss of nearly $50 billion on Saturday and saying performance is suffering in several major operating businesses.

- Warren Buffett’s Berkshire Hathaway Inc is being hit hard by the coronavirus pandemic, posting a record quarterly net loss of nearly $50 billion on Saturday and saying performance is suffering in several major operating businesses.

Buffett also allowed Berkshire’s cash stake to rise to a record $137.3 billion from $128 billion at the end of 2019. Still, Shanahan said Berkshire is “as well positioned as it can be,” reflecting its diverse businesses and substantial liquidity and access to capital. He rates Berkshire “buy.” Quarterly operating profit, which Buffett considers a better performance measure, rose 6% to $5.87 billion, or about $3,624 per Class A share, from $5.56 billion, or about $3,388 per share.

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