Buffett's Berkshire posts loss as stocks fall, operating profit rises
© Reuters. Berkshire Hathaway shareholders walk by a video screen at the company's annual meeting in Omaha May 4, 2013. REUTERS/Rick Wilking/File Photo) Inc 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.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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