Berkshire operating profit rises, buys back more stock

Berkshire operating profit rises, buys back more stock

Berkshire operating profit rises, buys back more stock

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File Photo

Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday said first-quarter operating profit rose 20%, and that it extended its recent aggressive stock repurchases by buying back $6.6 billion of its own stock.

Operating profit increased to $7.02 billion, from $5.87 billion a year earlier.

Berkshire also reported net income of $11.71 billion, or $7,638 per Class A share, compared with a net loss of $49.75 billion, or $30,653 per share, a year earlier.

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