Berkshire says operating profit rises, conducts stock buybacks
Buybacks accelerate after nearly two-year hiatus
Berkshire also repurchased $4.5 billion of its own stock in the second quarter, accelerating repurchases it had begun in March following a nearly two-year hiatus.
Higher quarterly operating profit and net income
Aug. 8 (Reuters) - Berkshire Hathaway on Saturday reported a higher quarterly operating profit, benefiting from higher earnings in manufacturing, service and retail operations, while net income was bolstered by double-digit gains in common stock investments such as Apple and Alphabet.
Second-quarter operating profit rose 16% to $12.98 billion from $11.16 billion a year earlier.
Net income more than doubled to $25.67 billion from $12.37 billion.
