Berkshire Hathaway Sets Record Buybacks, Slows Pace as Stock Rises
Berkshire Hathaway reported record stock repurchases of $9.6 billion in Q3, surpassing the previous high of $9 billion in Q4 2020. Operating earnings after tax were $13 billion, slightly down year-over-year but better than Wall Street expectations. CEO Greg Abel and Warren Buffett increased buybacks when shares were cheap, peaking at $5 billion monthly in September before slowing to $2 billion in October as stock prices rose.
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