Warren Buffett’s Berkshire Reports Earnings. Operating Profits Surged.

Berkshire Hathaway’s operating earnings surged 40% to a record $10.8 billion after taxes in the third quarter. The figure beat Wall Street estimates on a per-share basis.

The loss reflects a pullback in the stock market in the third quarter and in particular a 12% decline in Apple , which makes up nearly half the Berkshire equity portfolio. Berkshire bought back $1.1 billion of stock in the third quarter, compared with $1.4 billion in the second quarter and $4.4 billion in the first three months of 2023.

Berkshire’s Class A shares were up 0.7% Friday to $533,815 and are up 14% in 2023, about a percentage point behind the S&P 500 index.

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