Berkshire More Than Doubles Buybacks as Profit Falls — SkimNews
Get the Culture newsletter
Daily culture — film, music, books, the trends and ideas worth your attention. Free.
- Berkshire Hathaway reported lower quarterly profit for the third quarter as investment gains shrank, with the earnings miss landing on insurance rather than on strategy.
- Berkshire Hathaway more than doubled its stock buybacks in the third quarter, accelerating repurchases even as earnings declined.
Why it matters: Berkshire shareholders got a more concrete return lever than earnings: the buyback pace more than doubled in the third quarter even as profit fell and investment gains shrank. And the miss was attributed to insurance rather than strategy, so the headline drop overstates the damage to Berkshire's strategy.
Ask SkimNews
