Berkshire Profit Climbs 72% on Derivatives, Railroad
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Warren Buffett’s Berkshire Hathaway Inc. said profit climbed 72 percent in the third quarter on better results from its derivatives book and higher earnings at railroad Burlington Northern Santa Fe.
Net income rose to $3.92 billion, or $2,373 a share, from $2.28 billion, or $1,380, a year earlier, the Omaha, Nebraska-based company said yesterday in a statement. Operating earnings, which exclude some investment results, were $2,057 a share, missing the $2,063 average estimate of three analysts surveyed by Bloomberg.