(RTTNews) - Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported that its third-quarter operating earnings declined to $5.48 billion from $8.07 billion in the prior year.
But, net earnings attributable to shareholders for the third-quarter surged to $30.14 billion or $18,994 per Class A share from $16.52 billion or $10,119 per Class A share in the same quarter last year.
The latest-quarter results included gains of $22.4 billion compared to gains of $8.0 billion last year due to changes in the unrealized gains that existed in its equity security investment holdings.
Total revenues for the third-quarter declined to $63.02 billion from $64.97 billion in the previous year.
The company noted that about $9 billion was used to repurchase its shares in the third quarter.
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