BUSINESS BRIEFING / EARNINGS
Times Wire Reports
Berkshire Hathaway Inc., billionaire investor Warren Buffett’s company, said its third-quarter profit tripled as the improving economy and stock market boosted the value of its derivative contracts.
Its net income of $3.2 billion, or $2,087 a share, was up from $1.1 billion, or $682, in the same period last year.
Berkshire owns more than 60 subsidiaries and has major investments in firms such as Coca-Cola Co. and Wells Fargo & Co. Its insurance companies performed well but its other operating companies struggled.
