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11/7/2020, 2:03 PM (Source: TeleTrader)
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Berkshire Hathaway: Q3 net earnings at $30.14B, up 82.4% YoY

Billionaire investor Warren Buffett's conglomerate Berkshire Hathaway Inc. revealed on Saturday that its net earnings attributable to shareholders stood at $30.14 billion in the third fiscal quarter of 2020, marking an 82.4% surge from the same period a year ago.

Net earnings per average equivalent Class B share jumped 87.6% on an annual basis to hit $12.66. Berkshire Hathaway's investment and derivative gains reached $24.7 billion, skyrocketing by 185% from the third trimester in 2019. However, operating earnings plunged 32% year on year to $5.48 billion in the third three month period.

"Approximately $9 billion was used to repurchase Berkshire shares during the third quarter bringing the nine month total to approximately $16 billion. On September 30, 2020 there were 1,570,636 Class A equivalent shares outstanding. At September 30, 2020, insurance float (the net liabilities we assume under insurance contracts) was approximately $135 billion, an increase of $6 billion since yearend 2019," the company announced in the press release.

Breaking the News / MS