Berkshire Hathaway Q3: Record Cash and Investment Losses Despite Higher Earnings
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Berkshire Hathaway reported a 40.6% increase in Q3 operating earnings to $10.8 billion and record cash pile of $157 billion.
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The company saw investment losses of $23.5 billion in Q3 compared to $10.4 billion last year.
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Insurance underwriting swung to a profit of $2.4 billion from a $1.1 billion loss last year.
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Berkshire bought back $1.1 billion in stock in Q3, bringing 2022 repurchases so far to ~$7 billion.
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The company's bets abroad like its stakes in top Japanese trading firms have paid off as Japan's market hit 33-year highs.