Investment company Berkshire Hathaway saw its profits rise sharply in the Q3-2018. The company of billionaire Warren Buffett benefited, especially from strong the performance of its insurance activities and lower taxes.
Billionaire Warren Buffett’s Berkshire Hathaway Inc. (BRK.A, BRK.B) reported that its third operating earnings for the quarter surged to $6.88 billion from $3.44 billion in the previous year. The net earnings per class A share of $11,280 exceeds consensus of $3,820, compared with $2,473 a year ago.
Insurance underwriting income was $441 million in the third quarter, compared to a loss of $1.4 billion in the year-ago period.
See the Q3-2018 press-release