Profit jumps 82% at Buffett's firm but virus hurts business
November 8, 2020
OMAHA, Neb. (AP) — Warren Buffett's conglomerate reported an 82% jump in its third-quarter profit as the value of its investment portfolio soared, but Berkshire Hathaway said the coronavirus pandemic continued to hurt its assorted businesses, such as BNSF railroad.
Berkshire said Saturday that it earned $30.1 billion, or $18,994 per Class A share, during the quarter. That's up from $16.5 billion, or $10,119 per Class A share, a year ago. Most of the gains were due to a $24.8 billion improvement in the estimated value of Berkshire's investments, which include large stakes in Apple and Bank...