Berkshire Hathaway operating profit jumps 21%

Berkshire Hathaway Inc on Saturday reported improved quarterly operating results, as the conglomerate controlled by billionaire Warren Buffett showed signs of recovery from the depths of the coronavirus pandemic.

Second-quarter operating profit rose 21 per cent to $6.69 billion from $5.51 billion a year earlier.

Net income, including gains from common stock investments, rose 7 per cent to $28.1 billion, or $18,488 per Class A share, from $26.3 billion, or $16,314 per share, a year earlier.

Berkshire also said it repurchased about $6 billion of stock in the quarter, on top of approximately $31.3 billion of previously disclosed buybacks since the end of 2019.

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