Buffett's Berkshire posts $35.5bln profit, buys back more stock

Quarterly operating profit increased 13% to $8.07bln

Jonathan Stempel, Reuters News

May 6, 2023

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OMAHA, Nebraska - Warren Buffett's Berkshire Hathaway Inc on Saturday said its first-quarter profit totaled $35.5 billion, reflecting gains from common stocks such as Apple Inc, while higher income from investments bolstered operating profit.

Net income equaled $24,377 per Class A share, and swelled from $5.58 billion, or $3,784 per share, a year earlier.

Quarterly operating profit increased 13% to $8.07 billion, or about $5,561 per Class A share, from $7.16 billion.

The Omaha, Nebraska-based company said it also repurchased $4.4 billion of its own stock in the quarter.

(Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Alexander Smith)

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