[File Photo] Shareholders shop for discounted products at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska, US, May 4, 2019.[File Photo] Shareholders shop for discounted products at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska, US, May 4, 2019.
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. “Bottom line, this was a healthy quarter, but one needs to be concerned over its trajectory over the next 12 months,” Seifert said.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.
Results improved despite a $2.7 billion after-tax loss from Ian, a strong Category 4 hurricane that slammed into Florida on September 28 Revenue rose 9%, while expenses rose 7%. A strengthening US dollar led to $858 million of third-quarter gains from Berkshire’s non-dollar-denominated debt.
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