Berkshire Hathaway Increases Its Share Buybacks

Berkshire Hathaway spent $9.6 billion on share buybacks in the third quarter, and about another $2 billion in October.

Berkshire Hathaway's cash holdings fell to $356.9 billion by the end of September, down from $380.2 billion six months earlier.

Over the same period, Berkshire's operating profit fell 6% to $12.71 billion, while net profit dropped 28% to $22.11 billion. One of the reasons was lower profits in the insurance business.

Revenue rose 11% to reach $105.65 billion. According to the company, high prices and tariffs are leading consumers to spend less, while international conflicts are also affecting demand.

Source: Reuters