Berkshire operating profit rises, buys back more stock

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Berkshire operating profit rises, buys back more stock

Warren Buffett’s Berkshire Hathaway Inc 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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