Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday said many of its businesses are enjoying strong recoveries from the early depths of the coronavirus pandemic, fueling rebounds in profits and revenue.
Revenue jumped 22% to $69.1 billion. Berkshire also owns such businesses as the Geico auto insurer and See's Candies.
Buffett has aggressively repurchased Berkshire shares as high stock market valuations and the growth of special purpose acquisition companies, which take private companies public, make buying whole companies appear too costly.Valuations may have also played a role in Berkshire's selling $1.1 billion more stocks than it bought in the quarter.
Berkshire's share price is up 23.7% in 2021, topping the S&P 500's 18.1% gain, after trailing the index significantly in 2019 and 2020.
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