Berkshire Hathaway's Operating Earnings Jump 21%, Repurchases $6 Billion Of Its Stock



  • Warren Buffett’s Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) has repurchased $6 billion of its own stock in the second quarter, bringing the total buybacks to more than $37 billion since the end of 2019, Bloomberg reports. 

  • The company’s second-quarter operating profit rose 21% to $6.69 billion, about $4,424 per Class A share, from $5.51 billion, about $3,463 per share. 

  • The net income, including gains from investments such as Apple Inc AAPL and Bank of America Corp BAC, 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.

  • Chairman and CEO Buffett has been buying back Berkshire shares instead of making new acquisitions. 

  • In 2020, the company bought $24.7 billion of its own stock. 

  • According to Berkshire's second-quarter report, earnings from railroads, utilities, and energy jumped more than 27% from a year ago in the period to $2.26 billion. 

  • “The COVID-19 pandemic adversely affected nearly all of our operations during 2020 and in particular during the second quarter, although the effects varied significantly,” Berkshire said in the earnings report.

  • Berkshire has said that the risks from the pandemic remain and could impact its results in the future.

  • At the end of June, Berkshire’s cash pile stood at $144.1 billion.




Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsTop StoriesGeneralBerkshire Hathaway IncbuybackresultSecond QuarterShare
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!