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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.
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Berkshire said operating profit fell 32% to $5.48 billion from $8.07 billion a year earlier.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BRK.A | BERKSHIRE HATHAWAY INC. | 313,885.00 | +1,951.00 | +0.63% |
| BRK.B | BERKSHIRE HATHAWAY INC. | 208.85 | +1.40 | +0.67% |
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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.
Berkshire said operating profit fell 32% to $5.48 billion from $8.07 billion a year earlier. (AP Photo/Nati Harnik, File)
Berkshire’s share price is lagging the Standard & Poor’s 500 for a second straight year despite outperforming from July to September.