Buffett’s Berkshire posts US$35.5bil profit, buys back more stock

[superadmin]

OMAHA: Warren Buffett’s Berkshire Hathaway Inc posted a US$35.5 billion first quarter profit today, reflecting gains from stocks such as Apple Inc, while higher investment income and a rebound at car insurer Geico bolstered operating results.

Berkshire also sped up repurchases of its own stock, buying back US$4.4 billion, while paring its investments in other stocks such as Chevron Corp, which is still a major holding.

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