Buffett's Berkshire posts loss as stocks fall, operating profit rises
Business
Buffett's Berkshire posts loss as stocks fall, operating profit rises
(Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday posted its first overall quarterly loss in a year as the prices of stocks it owns fell, while improved results from insurance operations bolstered operating profit.
Berkshire said its third-quarter net loss was $12.77 billion, or $8,824 per Class A share, and compared with a $2.8 billion loss a year earlier.
Operating profit rose 41% to $10.76 billion, or $7,444 per Class A share, from $7.65 billion a year earlier.
Berkshire said it repurchased $1.1 billion of its stock in the quarter, and has bought back about $7 billion this year.
