Berkshire benefited from increased demand and prices for new home sales, industrial products and energy.
Berkshire also bought back more of its own stock but was cautious, repurchasing $1.05 billion, similar to the second quarter. It also bought back some stock in October. The quarterly net loss equaled $1,832 per Class A share, and compared with a profit of $10.34 billion, or $6,882 per share, a year earlier.
Operating profit, meanwhile, rose to $7.76 billion, or about $5,294 per Class A share, from $6.47 billion, or $4,331 per share, a year earlier. A strengthening US dollar led to $858m of third-quarter gains from Berkshire's non-dollar-denominated debt. Geico suffered its fifth straight quarterly underwriting loss, losing $759m before taxes, reflecting more frequent and costly accident claims, rising used car prices and car parts shortages. Written premiums barely changed.