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Berkshire Hathaway earnings take $3.8bn hit from Kraft Heinz stake writedown
Berkshire said it had slashed the carrying value of its 27.4 per cent stake in Kraft Heinz to $8.4bn, from $13.5bn at the end of the first quarter, a roughly $5bn impairment. It noted the hit reduced its total earnings after taxes by $3.8bn, according to the quarterly statement.
The 94-year-old billionaire investor doesn’t often miss, but this rare disappointment has weighed heavily on his empire.
With a low price-to-earnings multiple and a significant presence in Warren Buffett’s investment portfolio, The Kraft Heinz ...
Kraft Heinz CEO Carlos Abrams-Rivera has confirmed plans to explore a $20bn spin-off, potentially separating Kraft products ...
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