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Berkshire Hathaway posts higher profit, extends buybacks -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Warren Buffett is the chairman of Berkshire Hathaway Inc. He walks the floor as Berkshire Hathaway Inc shareholders gather in the exhibition hall. The meeting was held in Omaha, Nebraska on May 4, 2019. REUTERS/Scott

(Reuters) – Warren Buffett Berkshire Hathaway Inc. (NYSE:) Inc. on Saturday reported that its fourth-quarter profits grew due to improved investment results and operational performance. It also bought back $6.9billion of stock during the quarter.

Quartly operating income increased 45% from $5.02 trillion to $7.29 Billion, which is approximately $4,931 for each Class A share.

The net income rose by 11% from $35.84 to $39.65 billion. This was due in large part to the high returns from stocks like Apple Inc (NASDAQ): Apple is almost half the stock portfolio Berkshire holds.

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