Lates News

Berkshire Hathaway (BRK.A.N, BRK.B.N) announced its CEO Warren Buffett's last financial report before stepping down on Saturday, which revealed a 34% increase in quarterly operating profit thanks to improved performance in its insurance business. The company, owned by Buffett, also indicated caution towards the market and valuation. As of the end of September, the company held a record $381.7 billion in cash and equivalents and did not repurchase any of its own shares. Its third quarter operating profit rose to $13.49 billion, or $9,376 per Class A share, compared to $10.09 billion in the same period last year. Net profit attributable to shareholders increased by 17% to $30.8 billion, up from $26.25 billion in the same period last year.