Warren Buffett’s Berkshire posts bigger loss as stocks fall; operating profit sets record

) on Saturday posted its first quarterly loss in a year as the prices of Apple and other stocks it owns fell, but said improved results from insurance helped boost operating profit to a record.

Its BNSF railroad shipped fewer consumer goods, while lower homebuying hurt its namesake real estate brokerage and building products units such as Clayton Homes. Sales of Forest River RVs and Fruit of the Loom apparel also came under pressure. Jazwares, a toymaker that makes the popular Squishmallows and which Berkshire bought one year ago, helped offset some of the weakness, generating $469 million of revenue in the quarter.Investors watch Berkshire closely because its results often reflect broader economic trends, and because of the 93-year-old Buffett’s reputation as one of the world’s greatest investors.

Berkshire’s $12.77 billion overall loss equaled $8,824 per Class A share, and rose from $2.8 billion a year earlier. Buffett says the volatility is usually meaningless, and Berkshire appears to have kept its Apple stake.

Nederland Laatste Nieuws, Nederland Headlines

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