Fox Business Go
Watch Fox Business Network streaming live on the web.
Berkshire Hathaway Inc on Saturday posted a lower operating profit as the coronavirus pandemic was expected to weigh on some of its businesses, though gains in stocks such as Apple Inc fueled a big quarterly net profit.
Continue Reading Below
Berkshire said operating profit fell 32% to $5.48 billion from $8.07 billion a year earlier.
|BRK.A||BERKSHIRE HATHAWAY INC.||313,885.00||+1,951.00||+0.63%|
|BRK.B||BERKSHIRE HATHAWAY INC.||208.85||+1.40||+0.67%|
BUFFETT’S FIRM TO PAY $4.1M FINE FOR SUBSIDIARY’S IRAN SALES
Net income rose 82% to $30.14 billion, or $18,994 per Class A share, from $16.52 billion, or $10,119 per share, a year earlier.
The Omaha, Nebraska-based company said it also repurchased about $9 billion of its stock in the quarter, a record, and has bought back about $16 billion this year.