Berkshire Hathaway posts quarterly loss as stock holdings fall

Nov 5 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses.Operating profit nevertheless rose by 20%, topping analyst forecasts.Berkshire benefited from increased demand and prices for new home sales, industrial products and energy, while the U.S. Federal Reserve’s inflation-fighting campaign helped Berkshire generate more income from insurance investments.”On balance, results were strong and demonstrated resilience given the impact of inflation, higher interest rates and supply chain challenges,” said Jim Shanahan, …
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