(Source: Associated Press, November 2, 2019)
OMAHA, Neb. — Warren Buffett’s company reported Saturday that it saw an 11% decline in third-quarter profits because of a smaller increase in the paper value of its investments, even as it sits on a mountain of cash. Berkshire Hathaway said it made $16.52 billion, or $10,119 per Class A share, in the quarter, down from $18.54 billion, or $11,280 per Class A share, a year ago. Berkshire said its BNSF railroad added $1.466 billion net income during the quarter, up from $1.393 billion a year ago, as it reduced costs as volume slowed.
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Monday, November 4, 2019