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

Berkshire Hathaway, led by Warren Buffett, has posted a Q1 profit of $35.5bn, primarily attributed to gains from stocks such as Apple. The results also revealed a faster repurchase of its own stock, amounting to $4.4bn, and the selling of a net $10.4bn of shares. While it pared its investments in some of its stocks, such as Chevron and JPMorgan Chase, it remains to be a major holding in both. Berkshire’s cash hoard grew $2bn to over $130bn in Q1. Quarterly operating profit was up 13%, with GEICO contributing to the results.

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