Berkshire Hathaway posted strong earnings thanks to investment gains in a quarter when it repurchased a record number of shares, but the conglomerate’s operating profits fell short of expectations.
Berkshire (ticker: BRK/A) generated $30.1 billion of third-quarter profits after taxes, or $18,994 per class A share, boosted by $24.8 billion of investment gains, likely driven by paper gains in the company’s large equity holding in Apple (AAPL). The third-quarter earnings were up from $16.5 billion in the year-earlier period.
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November 07, 2020 at 09:12PM
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Berkshire Buybacks Hit Record $9 Billion in Third Quarter. Operating Earnings Miss Mark. - Barron's
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