Berkshire reports profit surge and accelerates buybacks, adds $10B to Alphabet
Berkshire Hathaway’s operating profit rose 16.3% to $12.98B and net income more than doubled to $25.67B, beating analysts’ expectations. The company repurchased $4.5B of its own stock and bought nearly $20B more shares than it sold. It also increased its Alphabet holding by $10B via a private placement, ending June with about $365B in cash and Treasury bills.