Berkshire Hathaway profit jumps
OMAHA, Neb. (AP) — 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.