Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday said many of its businesses are enjoying strong recoveries from the early depths of the coronavirus pandemic, fueling rebounds in profits and revenue.
Revenue jumped 22% to $69.1 billion. Berkshire also owns such businesses as the Geico auto insurer and See's Candies.
Buffett has aggressively repurchased Berkshire shares as high stock market valuations and the growth of special purpose acquisition companies, which take private companies public, make buying whole companies appear too costly.Valuations may have also played a role in Berkshire's selling $1.1 billion more stocks than it bought in the quarter.
Berkshire's share price is up 23.7% in 2021, topping the S&P 500's 18.1% gain, after trailing the index significantly in 2019 and 2020.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Berkshire Hathaway's operating earnings jump 21% as recovering economy boosts railroad, energy unitsThe conglomerate reported operating earnings of $6.686 billion, up 21% from $5.513 billion a year ago,
Consulte Mais informação »
Berkshire Posts Higher Profit on Railroad, Utilities and Energy OperationsBerkshire Hathaway said second-quarter net earnings rose 7%, helped by its railroad, utilities and energy divisions
Consulte Mais informação »
Covid-19: PM defends travel rules, and the piano prodigy flourishing in the pandemicCovid-19: Minister defends travel rules, and the piano prodigy flourishing in the pandemic
Consulte Mais informação »
U.S. added 943,000 jobs in July; unemployment rate at 5.4%The unemployment rate dropped to 5.4% as the U.S. economy continues to bounce back with surprising vigor from last year’s coronavirus shutdown.
Consulte Mais informação »
Simone Biles reunites with family after Olympics in precious pics: 'Houston, I’m home'Athletes weren't able to have their families join them in Tokyo due to the coronavirus pandemic.
Consulte Mais informação »
What’s Going On at Hillsong? Nothing Good.The legal plight of Hillsong co-founder Brian Houston isn’t the only crisis the megachurch is contending with. Choire writes
Consulte Mais informação »