Berkshire Hathaway Inc on Saturday posted a third-quarter loss, as the conglomerate run by billionaire Warren Buffett said it lost money on its stock investments and from insurance underwriting, Trend reports with reference to Reuters.
The net loss of $2.69 billion, or $1,832 per Class A share, compared with a profit of $10.34 billion, or $6,882 per share, a year earlier.
Operating profit rose 20% to $7.76 billion, or about $5,294 per Class A share, from $6.47 billion, or about $4,331 per share, a year earlier, helped by foreign currency gains and improvement in several businesses.
Berkshire Hathaway Inc on Saturday posted a third-quarter loss, as the conglomerate run by billionaire Warren Buffett said it lost money on its stock investments and from insurance underwriting.
The net loss of $2.69 billion, or $1,832 per Class A share, compared with a profit of $10.34 billion, or $6,882 per share, a year earlier.
Operating profit rose 20% to $7.76 billion, or about $5,294 per Class A share, from $6.47 billion, or about $4,331 per share, a year earlier, helped by foreign currency gains and improvement in several businesses.