Berkshire Hathaway A Stock News

Berkshire Hathaway has accelerated its stock repurchases, as CEO Greg Abel demonstrated a greater willingness than his predecessor Warren Buffett to put the conglomerate's enormous cash hoard to use. The Omaha, Nebraska-based company also reported on Saturday lower third-quarter profit, with operating earnings down 6% to $12.71 billion and net earnings down 28% to $22.

Berkshire Hathaway stock is doing well and is hovering near its all-time high as investors move to its safety amid the ongoing rout in the artificial intelligence (AI) industry. Its class A shares were trading at $856,612 on Friday, a few points below its all-time high of $878,395.

Also noteworthy from the company's third-quarter results were big revenue and earnings gains for the company's railroad unit, BNSF, and a drop in profits for its huge insurance group.

Warren Buffett is no longer at the helm of Berkshire Hathaway, but you might not know it. Berkshire bought and sold few stocks last quarter, echoing Buffett's final years in charge.

The conglomerate posted a 28% decline in quarterly net income after investment gains slumped and the conglomerate's insurance operations reported lower profits.

Berkshire Hathaway repurchased about $9.6 billion of its stock in the third quarter, more than double the second-quarter amount. Third-quarter operating earnings fell 5.8% to $12.705 billion as insurance underwriting and investment income declined.

Operating earnings were depressed by weaker underwriting and investment income at the company's large insurance units.

Berkshire Hathaway accelerates stock buybacks, operating profit falls