Berkshire Hathaway stock closes at record high

Both the Class A and Class B shares Warren Buffett's Berkshire Hathaway (BRK-A, BRK-B) closed at a new all-time high. The company recorded its highest-ever quarterly operating profit, driven by strength in its insurance businesses, as well as its large stake in Apple. Yahoo Finance Live breaks down the numbers.

Video transcript

- All right. Well, I'm watching shares of Berkshire Hathaway class B as it crushes an all-time high. Its previous intraday record high was $362.10, which it touched in March of last year. Now, the stock is at $361.03. Now, the conglomerate led by the billionaire Warren Buffett or the Oracle of Omaha reported its highest ever quarterly operating profit on Saturday with $10.04 billion driven by strength in its insurance businesses as well as its gigantic stake in Apple. Now, the Oracle of Omaha gets to keep his crown as his buy-and-hold investment strategy proves solid once again, even in an uncertain macroeconomic environment. The stock is up over 16% year-to-date.