Buffett's Berkshire posts $35.5 bln profit, buys back more stock

Warren Buffett's Berkshire Hathaway Inc on Saturday said its first-quarter profit totaled $35.5 billion, reflecting gains from common stocks such as Apple Inc, while higher income from investments bolstered operating profit. The Omaha, Nebraska-based company said it also repurchased $4.4 billion of its own stock in the quarter.

Warren Buffett's Berkshire Hathaway Inc on Saturday said its first-quarter profit totaled $35.5 billion, reflecting gains from common stocks such as Apple Inc, while higher income from investments bolstered operating profit. Net income equaled $24,377 per Class A share, and swelled from $5.58 billion, or $3,784 per share, a year earlier.

Quarterly operating profit increased 13% to $8.07 billion, or about $5,561 per Class A share, from $7.16 billion. The Omaha, Nebraska-based company said it also repurchased $4.4 billion of its own stock in the quarter.