Berkshire Hathaway's third-quarter profit reflected a 29% spike due to proceeds the company had received from its previous deals.
During the third quarter, billionaire Warren Buffet's company had earned USD5.05 billion or USD3,074 per Class A share. This was a significant increase from the profit received the same period last year, which was USD3.92 billion or USD2,373 per Class A share. Berkshire's revenue had grown to USD46.5 billion, which was a 13% increase.
The largest contribution to the increase in its earnings was the USD1.2 billion gain Berkshire had earned in preparation of its warrants redemption in companies Goldman Sachs and General Electric. Berkshire also saw its investments in Mars and Wrigley returned back when the former lent the companies during the 2008 financial crisis.
USA Today concluded that Berkshire rarely provide comments about its quarterly results. Moreover, no one from the company was available to comment about the recent quarterly results on Friday.
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