Saturday 8 November 2014

Berkshire third-quarter profit drops on investments, operating results gain

Berkshire Hathaway CEO Buffett points after throwing a newspaper during a competition at a trade show, at the company's annual meeting in Omaha By Luciana Lopez and Jonathan Stempel NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc said on Friday third-quarter profit fell 9 percent as it took a large writeoff on one of its investments, but operating results easily topped forecasts on improvement in its insurance, energy and railroad operations. Net income slipped to $4.62 billion, or $2,811 per Class A share in the third quarter, from $5.05 billion, or $3,074 per Class A share, a year earlier. Operating profit, however, rose 29 percent to $4.72 billion, or $2,876 per Class A share, from $3. ...




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