Berkshire Profit Falls 28% Despite $9.6 Billion Buybacks

Berkshire reported a 28% profit decline and a 5.8% drop in operating earnings, signaling softer conditions across its insurance and industrial units. However, $9.6 billion of buybacks and a record $377.4 billion cash pile provide a cushion. The mixed result is company-specific, with limited systemic read-through, though slowing repurchases after the Class A rally bears monitoring.