New Delhi, Aug. 8 -- Berkshire Hathaway Inc. spent about $4.5 billion to buy back its own shares in the second quarter, providing shareholders with the largest quarterly payout since 2021, as operating earnings surged.

That metric climbed to 16% in the three months through June, to nearly $13 billion, driven in part by gains in the conglomerate's manufacturing, service and retailing division, the Omaha, Nebraska-based conglomerate said Saturday in a statement.

The firm's cash hoard fell to $365.5 billion in the second quarter, as its net purchases of equities reached nearly $20 billion in the period, a sign that Chief Executive Officer Greg Abel is putting more of the firm's cash pile to work.

Halfway through his first year at the helm...