Buffett’s Berkshire Hathaway posts quarterly loss as stock holdings fall

Berkshire Hathaway Inc on Saturday posted a third-quarter loss, as the conglomerate run by billionaire Warren Buffett mentioned it lost funds on its stock investments and from insurance coverage underwriting.

The net loss of $two.69 billion, or $1,832 per Class A share, compared with a profit of $ten.34 billion, or $six,882 per share, a year earlier.

Operating profit rose 20% to $7.76 billion, or about $five,294 per Class A share, from $six.47 billion, or about $four,331 per share, a year earlier, helped by foreign currency gains and improvement in numerous enterprises.

Berkshire also repurchased $1.05 billion of its personal stock in the quarter, and has repurchased $five.25 billion this year.

Berkshire Hathaway Inc on Saturday posted a third-quarter loss, as the conglomerate run by billionaire Warren Buffett mentioned it lost funds on its stock investments and from insurance coverage underwriting.

The net loss of $two.69 billion, or $1,832 per Class A share, compared with a profit of $ten.34 billion, or $six,882 per share, a year earlier.

Operating profit rose 20% to $7.76 billion, or about $five,294 per Class A share, from $six.47 billion, or about $four,331 per share, a year earlier, helped by foreign currency gains and improvement in numerous enterprises.

Berkshire also repurchased $1.05 billion of its personal stock in the quarter, and has repurchased $five.25 billion this year.