Berkshire accelerates buybacks as quarterly profits decline

Berkshire Hathaway repurchased $9.6 billion of its shares in the third quarter while reporting lower operating and net earnings. The reports highlight Greg Abel’s use of the company’s cash and Berkshire’s stock performance, though the centre report provides only a brief account.

• Berkshire bought back $9.6 billion of its stock from July through September; the company also reported third-quarter operating earnings down 6% to $12.71 billion and net earnings down 28% to $22.11 billion.· 1 source
• The Financial Times snippet says new chief executive Greg Abel was a net seller of stocks as Berkshire shares outperformed the S&P 500.· 1 source
• The Post report says Berkshire ended September with $356.9 billion in cash and equivalents, and that its shares reached record highs that week.· 1 source