Berkshire Profit Hits a Record as Buffett’s Cash Pile Grows

(Bloomberg) — Berkshire Hathaway Inc.’s operating profit jumped 14% to a record as Warren Buffett’s conglomerate saw gains from its railroad and got some long-awaited earnings from Kraft Heinz Co.Operating earnings climbed to $7.86 billion in the third quarter, thanks in part to a rise in investment income and Berkshire’s reinsurance group posting its first underwriting profit of the year despite losses from a Japanese typhoon. Revenue climbed 2.4% on increases from the company’s insurers and manufacturing businesses.The results pushed Buffett’s cash pile to a record $128 billion, even as he completed a $10 billion investment in Occidental Petroleum Corp., …read more

Source:: Yahoo Finance


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