Berkshire operating profit rises, buys back more stock

Warren Buffett, chairman and CEO of Berkshire Hathaway, takes his seat to speak at the Fortune's Most Powerful Women's Summit in Washington

Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday said first-quarter operating profit rose 20%, and that it extended its recent aggressive stock repurchases by buying back $6.6 billion of its own stock.

Operating profit increased to $7.02 billion, from $5.87 billion a year earlier.

Berkshire also reported net income of $11.71 billion, or $7,638 per Class A share, compared with a net loss of $49.75 billion, or $30,653 per share, a year earlier.

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