Berkshire Hathaway operating profit rises 21%, showing signs of recovery

Berkshire Hathaway Inc on Saturday reported improved quarterly operating results, as the conglomerate controlled by billionaire Warren Buffett showed signs of recovery from the depths of the coronavirus pandemic.

Second-quarter operating profit rose 21% to $6.69 billion from $5.51 billion a year earlier.

Net income, including gains from common stock investments, rose 7% to $28.1 billion, or $18,488 per Class A share, from $26.3 billion, or $16,314 per share, a year earlier.

Berkshire also said it repurchased about $6 billion of stock in the quarter, on top of approximately $31.3 billion of previously disclosed buybacks since the end of 2019.