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HomeInvestmentBerkshire posts record operating profit, $35.9 billion of net income By Reuters

Berkshire posts record operating profit, $35.9 billion of net income By Reuters

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© Reuters. FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo/File Photo

(Reuters) – Berkshire Hathaway (NYSE:) on Saturday posted its highest-ever quarterly operating profit, bolstered by improved results in its insurance businesses, while gains from stock holdings helped the conglomerate led by billionaire Warren Buffett swing to a nearly $36 billion overall profit.

Operating profit rose 7% to $10.04 billion, or about $6,938 per Class A share, from $9.42 billion a year earlier.

Net income totaled $35.91 billion, or $24,775 per Class A share, compared with a year-earlier $43.62 billion loss.

Berkshire also said it repurchased $1.4 billion of stock in the quarter.

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