Warren Buffett's Berkshire Hathaway Inc said on Saturday its results are rebounding from the worst effects of the COVID-19 pandemic, and that it has extended its aggressive stock repurchases by buying back $6.6 billion of its own stock. Operating profit increased 20% to $7.02 billion, or about $4,600 per Class A share, 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. First-quarter results last year reflected a $55.62 billion loss on investments and derivatives, as stock markets worldwide plunged. But Berkshire said many businesses have since experienced recoveries, and posted "considerably higher" earnings and revenue in the first quarter.

Source: Mint May 01, 2021 12:33 UTC