Berkshire Hathaway recorded operating income of $ 7.018 billion in the first quarter of 2021, up from $ 5.871 billion in the same period last year. The business cluster including insurance, transportation, utilities, retail and manufacturing saw signs of recovery amid the reopening of the economy.
During the first quarter, the company repurchased $ 6.6 billion in Berkshire Hathaway shares, after recording $ 24.7 billion in buybacks last year rather than deals. The giant group recorded $ 9 billion in share buybacks in the fourth quarter of 2020.
The group totaled $ 64.6 billion in revenue in the fourth quarter, higher than Wall Street’s estimate of $ 63.66 billion, according to Refinitiv.