Berkshire Hathaway’s net loss equaled $29,754 per Class A share, compared with a net profit of $28.1 billion, or $18,488 per Class A share, a year earlier.
However, Berkshire posted better operating results, as better performances from BNSF rail and reinsurance offset a loss from auto insurer Geico, where parts shortages and higher vehicle prices drove losses from accident claims. .
Quarterly operating earnings rose 39% to $9.28 billion, or about $6,326 per Class A share, from $6.69 billion, or $4,424 per Class A share, a year earlier.
Repurchase of shares
Berkshire slowed buybacks of its own shares, buying back $1 billion in the quarter and $4.2 billion so far this year.
It also bought more than $6.1 billion in shares, down from $51.1 billion in the first quarter, when it acquired major stakes in oil companies Chevron and Occidental Petroleum.
Berkshire ended June with $105.4 billion in cash and equivalents. It expects to complete its acquisition of the Alleghany insurance company for $11.6 billion in the fourth quarter.
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