Warren Buffett’s Berkshire Hathaway also spoke of growth in the first quarter as its revenue rose to the limit on the stock market and its ever-expanding business group expanded last year.
The company said on Saturday that it had made a profit of $ 11.7bn from a loss of $ 49.7bn last year, figures that were heavily affected by changes to its $ 282bn location that includes big names like Apple and Bank of America.
Its start-up businesses, which include Geico insurance, the BNSF railway and the Dairy Queen ice cream chain. Business profits increased by 19.5% to $ 7bn last year.
The company analyzed a pile of money that was adjusted to $ 145.4bn from $ 138.3bn by the end of 2020. Berkshire revealed that it had spent $ 6.6bn a quarter to repurchase its Group A and B, while continuing to light its huge fire to distribute rescuers.
The results came just hours before Buffett and three Berkshire executives spoke to shareholders of the company at an annual meeting that could be the most divisive in many years.
Many retailers, including California pensioners working for Calpers and asset manager Neuberger Berman, have warned they will abstain from voting for directors sitting on the Berkshire board while forcing the meeting to adopt financial terms.
Buffett will be joined by Berkshire vice-chairman Charlie Munger, Greg Abel and Ajit Jain at the annual conference, which will be held this year from Los Angeles, away from the Omaha-based company.
Coronavirus for the second year banned the annual conference that attracts thousands of participants from Berkshire to the western city.
Shares of Berkshire A have risen 18.6% so far this year and closed Friday at a $ 412,500 piece. These gains make the conference less than 11.8% of the S&P 500 return, and set the stage for Berkshire to tackle the stock market in one year for the first time since 2018.