Berkshire Hathaway Slips To Loss In Q3

(RTTNews) - Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported Saturday that its net loss attributable to shareholders for the third quarter of 2022 was $2.69 billion or $1,832 per class A share compared to profit of $10.34 billion or $6,882 per class A share in 2021.

The investment gains/losses included loss of $10.1 billion in the third quarter 2022. The prior year result included gains of $3.1 billion due to changes in the unrealized gains that existed in equity security investment holdings.

Operating earnings for the third quarter grew to $7.76 billion from 6.47 billion in the previous year.

Total revenues for the quarter were $76.93 billion up from $70.58 billion in the prior year. Analysts polled by Thomson Reuters expected the company to report revenues of $77.68 billion for the third quarter. Analysts' estimates typically exclude special items.

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