Berkshire Hathaway posts higher profit, extends buybacks

FILE PHOTO: 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/File Photo

February 26, 2022

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Saturday said fourth-quarter profit swelled, boosted by improved operating results and investment gains, and that it bought back an additional $6.9 billion of stock in the quarter.

Quarterly operating income rose 45% to $7.29 billion, or approximately $4,931 per Class A share, from $5.02 billion a year earlier.

Net income rose 11% to $39.65 billion from $35.84 billion, with both totals reflecting large gains from stocks such as Apple Inc. Apple alone represents nearly half of all the stocks Berkshire owns.

(Reporting by Jonathan Stempel in New York; Editing by Catherine Evans)

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