Berkshire Hathaway Q3 Profit Doubles On Investment Gain

(RTTNews) - Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRKa, BRK-B, BRK-A) announced Friday evening that third quarter net earnings attributable to its shareholders surged to $9.43 billion from $4.62 billion in the year-ago quarter.

The company's 2015 third quarter profit includes after-tax non-cash holding gain of $4.4 billion that was recognized on July 2, 2015, in connection with the merger of Kraft Foods and H.J. Heinz.

Operating earnings for the quarter totaled $4.55 billion, down slightly from $4.72 billion in the same period a year earlier.

Net earnings per Class A equivalent share attributable to Berkshire shareholders improved to $5,737 from $2,811 in the last year quarter. Operating earnings per Class A equivalent share $2,769, versus $2,876 in the prior year period.

Berkshire stated that, since the beginning of the year, its shareholders' equity has increased $8.1 billion and its book value per Class A equivalent share has increased by 3.3 percent to $151,083 as of September 30, 2015. Insurance float (the net liabilities we assume under insurance contracts) at September 30, 2015 was $86.2 billion.

Berkshire's Class A shares closed Friday's regular trading session at $203,100.00, down $1,594.00 or 0.78 percent. The company's Class B shares closed the day's session at $136.33.