Home / Markets / Industries / Finance
Friday, November 06, 2009
Berkshire Quarterly Net Income More Than Doubles
By Alistair Barr
MarketWatch Pulse
SAN FRANCISCO -- Berkshire Hathaway said late Friday that third-quarter net income more than doubled as the insurance-focused conglomerate run by Warren Buffett benefited from a rebound in the value of its large equity investments and derivatives exposures. Third-quarter net income came in at $3.24 billion, or $2,087 per Class A equivalent share, versus $1.06 billion, or $682 per Class A equivalent share, a year earlier. Operating earnings, which exclude investment and derivative gains and losses, were $2.06 billion, or $1,325 per Class A equivalent share, in the latest period. That was slightly lower than a year earlier.
Copyright © 2009 MarketWatch, Inc.
