OMAHA: Berkshire Hathaway today posted its highest-ever quarterly operating profit, while gains from stock holdings helped the conglomerate led by billionaire Warren Buffett swing to a nearly US$36 billion overall profit.
Investors closely watch Berkshire because of Buffett’s reputation, and because results from the Omaha, Nebraska-based company’s dozens of operating units often mirror broader economic trends. Net income totalled US$35.91 billion, or US$24,775 per Class A share, compared with a year-earlier US$43.62 billion loss.It also remained a big net seller of stocks from its US$353 billion equity portfolio – about half of which is Apple – shedding about US$8 billion more stocks than it bought.
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