Berkshire Hathaway shares hit post-Buffett high on strong Q2 earnings

Berkshire Hathaway shares climbed to their highest level since Warren Buffett announced his departure as chief executive in May 2025, after the conglomerate reported strong second-quarter financial results and demonstrated a significant deployment of its massive cash reserves under new CEO Greg Abel. The company's stock rose as much as 3.3% in morning trading on Monday, August 10, 2026.

The positive market reaction followed Berkshire's quarterly report released on Saturday, August 8, which showed operating profit increased 16% to $12.98 billion for the quarter ending June 30. Revenue grew 10%, ending a period of largely stagnant growth. Net income more than doubled to $25.67 billion, a figure that included substantial paper gains on investments such as Alphabet and Apple.

A key development for investors was the reduction in Berkshire's cash pile, which fell to $364.7 billion on June 30 from a record $380.2 billion three months earlier. This decline reflected a shift in capital allocation strategy under Abel, who took operational control at the start of 2026. During the second quarter, Berkshire spent $4.5 billion repurchasing its own stock, a sharp increase from the $235 million...