Berkshire Hathaway Inc. (NYSE: BRK.B), the American conglomerate run by the legendary investor Warren Buffett, has posted third quarter net earnings of US$26.3 billion (A$39.7 billion).
This compared with a loss of $12.8 billion in the third quarter of 2023.
Operating earnings, which remove the effect of market changes and better reflect the firm’s performance, fell by 6% to $10.1 billion over the same period.
Over the first nine months of 2024, net earnings were $69.3 billion, 18% higher than the previous corresponding period.
Founded in 1839 as a textile manufacturer, it transitioned into a major conglomerate in 1965 under the management of chairman and CEO Warren Buffett and vice chairman Charlie Munger.
Buffett, 94, has led Berkshire since 1965 and has a net wealth of $142.2 billion, but is expected to eventually transfer leadership to Vice Chairman Greg Abel, 62.
As of 10:15 am (AEDT) Monday 4 November, Berkshire Hathaway class B shares were trading at $454.54 after hours. The market cap is approximately $974.27 billion.