Berkshire Hathaway posts higher profit in Q4, slows buyback pace

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Warren Buffett’s Inc on Saturday said fourth-quarter profit swelled, boosted by improved operating results and investment gains, and that it bought back an additional $6.9 billion of stock in the quarter.

Berkshire bought back $6.9 billion of its own shares during the fourth quarter, down from the $7.6 billion it bought back in the third quarter, according to a statement Saturday. Still, it was the second highest amount of stock repurchased by the company in 2021.

Quarterly operating income rose 45% to $7.29 billion, or approximately $4,931 per Class A share, from $5.02 billion a year earlier.

Net income rose 11% to $39.65 billion from $35.84 billion, with both totals reflecting large gains from stocks such as Apple Inc. Apple alone represents nearly half of all the stocks Berkshire owns.

Berkshire was able to put more money to work, cutting its cash pile to $146.72 billion by the end of the year. The company had ended the third quarter with a record $149.2 billion of funds on hand.

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