Berkshire Hathaway buys back $9.6B of its own stock but its profits declined
Berkshire Hathaway repurchased $9.6 billion worth of its own shares in the third quarter, but Geico disappointed and its overall profit fell more than 28% as the value of its investments changed.
TL;DR
- Berkshire Hathaway repurchased $9.6 billion of its shares in Q3.
- Overall profit decreased by more than 28%.
- Geico's performance disappointed.
- Changes in investment values impacted overall profit.