Pursuits
Berkshire Profit Declines 24% on Buffett’s Derivative Bets
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Warren Buffett’s Berkshire Hathaway Inc. said third-quarter profit fell 24 percent as derivative bets declined in value.
Net income slid to $2.28 billion, or $1,380 a share, from $2.99 billion, or $1,814, a year earlier, the Omaha, Nebraska-based company said yesterday. Operating earnings, which exclude some investment results, were $2,309 a share, beating the $1,796 average estimate of three analysts surveyed by Bloomberg.