Berkshire Hathaway on Saturday reported a 34% enhance in quarterly working profit, helped by improved underwriting in its insurance coverage operations, in its final monetary report earlier than Warren Buffett bows out as chief govt.
Buffett’s conglomerate additionally signaled it remained cautious about markets and valuations, ending September with a record $381.7 billion of cash and equivalents and repurchasing none of its personal inventory.
Third-quarter working profit rose to $13.49 billion, or about $9,376 per Class A share, from $10.09 billion a 12 months earlier.
Net earnings, together with good points and losses from Berkshire’s widespread inventory investments together with Apple, rose 17% to $30.8 billion, or $21,413 per Class A share, from $26.25 billion a 12 months earlier.