Berkshire Hathaway on Saturday reported a big jump in third-quarter operating earnings, while sitting on a record amount of cash that surpassed $157 billion.
on Saturday reported a big jump in third-quarter operating earnings, while sitting on a record amount of cash that surpassed $157 billion.
The Omaha-based conglomerate's operating earnings — which encompass profits made from the myriad of wholly owned businesses such as insurance, railroads and utilities — totaled $10.761 billion last quarter. That's 40.6% higher than the $7.651 billion earned from the same quarter a year ago. Berkshire held a record level of cash at the end of September — $157.241 billion — topping the $149.2 billion high set in the third quarter of 2021.
Berkshire Class A shares have rallied nearly 14% this year. After reaching an all-time high on Sept. 19, shares have fallen about 6% from the peak.This is breaking news. Please check back for updates.
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