malaymail.com 03 May, 2021 07:15 am

Buffett’s Berkshire recovering from Covid-19 pandemic, buys back more stock

Buffett’s Berkshire recovering from Covid-19 pandemic, buys back more stock
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...

Indeed, Berkshire said many businesses are now posting “considerably higher” earnings and revenue despite the negative impact of February winter storms, though some businesses are still suffering.Berkshire said Precision’s quarterly revenue fell 36 per cent, and revenue and earnings should remain “relatively low” in 2021 because aircraft production is unlikely to grow significantly.87 billion a year earlier.75 billion, or US$30,653 per share, a year earlier.

6 billion (RM27 billion) of new buybacks.Manufacturing operations boosted pre-tax profit by 15 per cent, with earnings nearly doubling at the Clayton Homes mobile housing unit as sales revenue increased and credit losses fell.

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