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Berkshire's 3Q Profits Rise 29%, Trail Forecasts

Warren Buffett's Berkshire Hathaway posted a 29% jump in third-quarter profits on Friday, but the holding company's adjusted earnings failed to meet forecasts on Wall Street. Shares of the billionaire's investment vehicle barely budged in after-hours trading. Berkshire owns a broad range of assets, including Dairy Queen, NetJets, H.J. Heinz, and Geico. Berkshire said it earned $5.05 billion, or $3,074 per Class A share, last quarter, compared with $3.92 billion, or $2,373 a share, the year before.Operating earnings increased to $3.66 billion, or $2,228 per Class A share, last quarter, compared with $3.40 billion, or $2,057 a share, the year before. Analysts had been projecting stronger EPS of $2,402.23.Revenue jumped 13% to $46.54 billion.The stronger profits were highlighted by $1.39 billion of investment and derivative gains, compared with $521 million the year before. Derivatives generated $277 million in gains last quarter, up from a loss of $76 million in the year-earlier period. ...

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  1. NetJets CEO on $9.6B Deal for 425 Jets

    NetJets CEO Jordan Hansell on the company’s deal for the largest private aviation purchase in history and the company’s long-term growth and expansion.

  2. NetJets Buying 150 Planes From Textron

    Berkshire Hathaway's NetJets has inked a deal to buy 150 new business jets from  Textron's (NYSE:TXT) Cessna Aircraft Company.Tuesday's announcement comes after The ...

  3. NetJets Casts Its Eyes On China As Profit Rises 10%

    NetJets Inc. is pressing ahead with plans to launch a corporate jet business in China, part of the turnaround plan that saw the Berkshire Hathaway Inc. (BRKA, BRKB) ...

  4. Lufthansa Plans Private Jet Offering In North America

    Deutsche Lufthansa AG (LHA.XE) said Monday that it would extend its private-jet offering to premium passengers to North America and the Caribbean, a small but lucrat...

  5. Buffett's NetJets Sues the IRS

    FBN's Adam Shapiro on Warren Buffett's NetJets suing the IRS for millions, and whether this is hypocritical from the investor calling for the rich to pay more in taxes.

  6. Bombardier sees stronger demand for business jets

    (Reuters) - Bombardier Inc <BBDb.TO> reported a 13 percent rise in first-quarter profit, helped by strength in both its plane- and train-making divisions, and said d...

  7. Dichter: NetJets Hasn't Missed a Beat

    FBN's Liz Claman on with NetJets Vice Chairman Kenny Dichter on the company's future without David Sokol.

  8. Presumed Heir to Warren Buffett Abruptly Resigns

    FBN's Liz Claman on the resignation of NetJets CEO David Sokol, the potential replacement for Warren Buffett as CEO of Berkshire Hathaway .

  9. David Sokol Resigns from Berkshire Hathaway Post

    FBN's Liz Claman on fmr. NetJets CEO David Sokol’s decision to resign and the risk of an SEC investigation.

  10. NetJets CEO on National Intrepid Center

    NetJets CEO Richard Santulli and Intrepid Museum Foundation’s Arnold Fisher on getting the National Intrepid Center of Excellence built to assist military personnel and veterans with traumatic brain injuries.

  11. Berkshire Hathaway profit falls on Japan quake

    By Ben BerkowitzNEW YORK (Reuters) - Warren Buffett's conglomerate Berkshire Hathaway Inc reported a smaller profit for the first quarter, as reinsurance losses from...

  12. NetJets CEO on Transforming Company

    NetJets CEO David Sokol on the push for derivatives regulation and how he revamped the company.

  1. VistaJet CEO takes aim at U.S. before China push

    Private jet operator VistaJet will take on its Warren Buffet-owned rival in the United States next year before turning attention to the Chinese market, the company's...

  2. NetJets CEO: Significant Strengthening in U.S.

    NetJets CEO Jordan Hansell on where the company is seeing the biggest growth and how it prepared for sequestration.

  3. SEC Drops Case Against Ex-Berkshire Exec

    The Securities and Exchange Commission has reportedly decided to end a probe into former Berkshire Hathaway executive David Sokol's eyebrow-raising stock purchases w...

  4. Bombardier signs record $7.8 billion deal with VistaJet

    Bombardier Inc has signed its largest business jet deal ever, a $7.8 billion order from Swiss charter operator VistaJet for up to 142 Global aircraft that highlights...

  5. Bombardier Signs Big VistaJet Deal

    Canadian aircraft builder Bombardier Inc. (BDRBF) Tuesday signed its largest-ever deal, potentially worth more than $7.8 billion, with VistaJet, a privately owned co...

  6. Textron Rallies On Solid Earnings

    Textron Inc. was among top percentage gainers on the S&P 500 Thursday, climbing more than 7% after reporting it beat its second-quarter earnings estimates. The manuf...

  7. Textron Inc&#39;s 2Q Results: Postgame Scorecard

    Textron Inc's (NYSE:TXT) profit climbed in the second quarter, topping analysts' expectations.Earnings and Revenue The company's EPS beat Wall Street estimates and t...

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