Warren Buffett’s Berkshire Hathaway ended the third quarter with a record cash pile and reported a deeper net loss due to the sputtering stock market rally.
The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and sportswear maker Brooks Running, posted a net loss of $12.8 billion, or $8,824 a class A share equivalent. That compared with a loss of $2.8 billion, or $1,907 a share, in the year-earlier period. Investment losses swelled to $23.5 billion from $10.4 billion a year earlier.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
