Berkshire Hathaway Slips To Loss In Q3

Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported Saturday that its net loss attributable to shareholders for the third quarter of 2022 was $2.69 billion or $1,832 per class A share compared to profit of $10.34 billion or $6,882 per class A share in 2021.

The investment gains/losses included loss of $10.1 billion in the third quarter 2022. The prior year result included gains of $3.1 billion due to changes in the unrealized gains that existed in equity security investment holdings.

Operating earnings for the third quarter grew to $7.76 billion from 6.47 billion in the previous year.

Total revenues for the quarter were $76.93 billion up from $70.58 billion in the prior year. Analysts polled by Thomson Reuters expected the company to report revenues of $77.68 billion for the third quarter. Analysts' estimates typically exclude special items.

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