Stock Market News
Buffett’s Berkshire posts $35.5 billion profit, buys back more stock
2023.05.06 08:51
© Reuters. 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
OMAHA, Nebraska (Reuters) – Warren Buffett’s Berkshire Hathaway (NYSE:) Inc on Saturday said its first-quarter profit totaled $35.5 billion, reflecting gains from common stocks such as Apple Inc (NASDAQ:), while higher income from investments bolstered operating profit.
Net income equaled $24,377 per Class A share, and swelled from $5.58 billion, or $3,784 per share, a year earlier.
Quarterly operating profit increased 13% to $8.07 billion, or about $5,561 per Class A share, from $7.16 billion.
The Omaha, Nebraska-based company said it also repurchased $4.4 billion of its own stock in the quarter.
