Berkshire Hathaway Reports Lower Operating Profit, Buys Back $9.6 Billion in Stock
Berkshire Hathaway said third-quarter operating profit fell as insurance underwriting results declined. It repurchased $9.6 billion of stock in the quarter.
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01:18:24 PM UTC
SquawkNews
By Andrew BaryBerkshire Hathaway's operating earnings fell 6% to $12.7 billion after taxes in the third quarter, depressed by weaker underwriting and investment income at the company's large insurance units.Those declines were partly offset by higher profits at the conglomerate's railroad, utility…
Berkshire Hathaway NYSE:BRK.A on Saturday reported a lower third-quarter operating profit as insurance underwriting results declined, and said it bought back $9.6 billion of stock in the quarter.The repurchases are in addition to the $4.8 billion of stock that Berkshire repurchased earlier this yea…