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Warren Buffett of Berkshire Hathaway also said that two-thirds of the profits are in the third quarter compared to the same period last year, when his pile hit a new record despite the increase in buy shares.
The larger group said on Saturday that their earnings had dropped to $ 10.34bn, or $ 6,882 per class A, a third.
Berkshire’s operating costs, which Buffett favors as a measure of performance because it eliminates changes in its assets, rose by 18 percent from last year to $ 6.5bn.
Although the stock company increased its sales to resell its $ 7.6bn stock price in the third quarter, bringing in nine months to over $ 20bn, its inflation rate rose to $ 149bn.
Some long-time retailers have been frustrated by Buffett’s refusal to take action and put a Berkshire pile of money in place, as the well-known singer was terrified.
Various conglomerate businesses have allowed this to happen successfully due to the Covid-19 epidemic, but now they are leaving to face the challenges that have led to health problems.
Although operating costs for its railway sector increased by 11.8% from a year earlier to $ 4.59bn, Berkshire acknowledged that the business had “encountered high-quality equipment, cargo and other purchasing costs”, leading to “continuous global disruption”.
Berkshire also warned that it does not anticipate any significant increase in airline bills or recent earnings at Precision Castparts, a steel company that was acquired in 2016, due to the crisis and the spread of the epidemic on air travel.
Some of the company’s businesses, ranging from housing, manufacturing and retail to consumers, paint a powerful picture of what customers want, but they are also affected by the reduction in products due to the disruption of sales processes.
One of the weaknesses in taking action was the Berkshire insurance business, which saw the damage increase to $ 784m in the three months to September due to catastrophic events such as Hurricane Ida in the US and floods in Europe. However, insurance premiums rose slightly in the third quarter to $ 1.2bn from $ 1bn in the same period last year.
Berkshire’s Class A shares have risen by 26.3 percent so far this year, according to the S&P 500 benchmark.
Berkshire business value has risen by less than 1 percent to $ 310.7bn between June 30 and the end of September. About 70 percent of the cost of the work is generated by four companies; American Express, Apple, Bank of America and Coca-Cola.
Berkshire said it had $ 128.4bn of Apple shares at the end of September, up from $ 124.3bn at the end of June and showed a significant increase in quartet. Coke currency was only one of four that fell in the September segment.
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