Saturday, 01 May 2021 11:21 PM MYT
Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska, May 6, 2018. Reuters pic
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NEW YORK, May 1 Warren Buffett’s Berkshire Hathaway Inc said today its results are rebounding from the worst effects of the Covid-19 pandemic and that it has extended its aggressive stock repurchases with US$6.6 billion (RM27 billion) of new buybacks.
First-quarter results suggest that the Omaha, Nebraska-based conglomerate, whose dozens of operating businesses include the BNSF railroad and Geico auto insurance, may have experienced the worst effects of the pandemic, including the loss of tens of thousands of jobs.
Provided by Dow Jones
By Justin Baer Warren Buffett s Berkshire Hathaway Inc. swung to a quarterly profit on stock-market gains and better results from its insurance business. Berkshire reported first-quarter net income of $11.7 billion, or $7,638 per Class A share equivalent, compared to a loss of $49.7 billion, or $30,653 per Class A share equivalent, in the year-earlier period. Operating earnings, which exclude some investment results, rose to $7.02 billion from $5.87 billion in the year prior. The conglomerate runs a large insurance operation as well as railroad, utilities, industrial manufacturers, retailers and even auto dealerships. It also holds large investments, especially in the stock market. An accounting rule change in recent years has meant that Berkshire s earnings often reflect the larger performance of the stock market, while operating earnings more accurately reflect the firm s vast business operations.
Provided by Dow Jones
By Justin Baer Warren Buffett s Berkshire Hathaway Inc. swung to a quarterly profit on stock-market gains and better results from its insurance business. Berkshire reported first-quarter net income of $11.7 billion, or $7,638 per Class A share equivalent, compared to a loss of $49.7 billion, or $30,653 per Class A share equivalent, in the year-earlier period. Operating earnings, which exclude some investment results, rose to $7.02 billion from $5.87 billion in the year prior. The conglomerate runs a large insurance operation as well as railroad, utilities, industrial manufacturers, retailers and even auto dealerships. It also holds large investments, especially in the stock market. An accounting rule change in recent years has meant that Berkshire s earnings often reflect the larger performance of the stock market, while operating earnings more accurately reflect the firm s vast business operations.
Provided by Dow Jones
By Justin Baer Warren Buffett s Berkshire Hathaway Inc. swung to a quarterly profit on stock-market gains and better results from its insurance business. Berkshire reported first-quarter net income of $11.7 billion, or $7,638 per Class A share equivalent, compared with a loss of $49.7 billion, or $30,653 per Class A share equivalent, in the year-earlier period. Operating earnings, which exclude some investment results, rose to $7.02 billion from $5.87 billion in the year prior. The conglomerate runs a large insurance operation as well as railroad, utilities, industrial manufacturers, retailers and even auto dealerships. It also holds large investments, especially in the stock market. An accounting rule change in recent years has meant that Berkshire s earnings often reflect the larger performance of the stock market, while operating earnings more accurately reflect the firm s vast business operations.
Warren Buffett s Berkshire Hathaway Inc will hold its annual meeting on May 1 in Los Angeles. As in 2020, the meeting will be held virtually because of the COVID-19 pandemic. Vice Chairman Charlie Munger, a Californian who missed the 2020 meeting, held in Omaha, Nebraska, will rejoin Buffett on stage to answer 3-1/2 hours of shareholder questions. Here are some facts about Buffett and Berkshire.
FACTS ABOUT WARREN EDWARD BUFFETT
Born: Aug. 30, 1930
Education: University of Nebraska-Lincoln, Columbia Business School
Family: Buffett has been married to Astrid Menks since August 30, 2006. His first wife Susan Thompson Buffett died in 2004. They had three children: Susan, Howard and Peter.