Berkshire Hathaway sees profits soar

Warren Buffett’s company reported a 29 percent jump in third-quarter profit as it collected some of the proceeds from deals made during the financial crisis.

Berkshire Hathaway earned $5.05 billion, or $3,074 per Class A share, during the quarter. That’s up from $3.92 billion, or $2,373 per Class A share, in the same period last year.

The biggest factor in the results was a $1.2 billion investment gain Berkshire recorded as it prepared to redeem warrants in General Electric and Goldman Sachs. Mars and Wrigley also repaid Berkshire for a crisis-era investment.

Berkshire’s revenue grew 13 percent to $46.5 billion.

The three analysts surveyed by FactSet expected Berkshire to report operating earnings per Class A share of $2,424.26. Berkshire reported $2,228 operating earnings per A share, which excludes investment gains.

More on Warren Buffett

Buffett talks social media and Bitcoin

The richest Americans in tech

The world’s richest people

Must Read

Partner Content

Show comments

Trending Now

Follow Us

Berkshire Hathaway sees profits soar