Berkshire Hathaway recorded a 20% jump in operating profits this weekend as the group benefitted from rising prices, rising interest rates and strong economic activity across its business portfolio in the third quarter. Operating profits jumped 20% year-on-year to $7.76 billion.
Berkshire, which is managed by the legendary investor Warren Buffett, owns a myriad of operating businesses, spanning railroads to insurance and utilities.
Q3 2022 hedge fund letters, conferences and more
Image source: YouTube Video ScreenshotThe group’s insurance business, historically a growth engine for Berkshire, reported an underwriting loss of $962 million due to higher claims and inflation, primarily at GEICO.
However, this loss was more than offset...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
