(AP) — Warren Buffett's company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns — particularly the insurers — generally performed well.
Berkshire Hathaway said Saturday that it lost $12.8 billion, or $8,824 per Class A share, in the quarter.
That's significantly bigger than the $2.8 billion loss, or $1,907 per Class A share, that it reported a year ago.
A year ago, the insurers reported a $1.1 billion loss in the third quarter.
The biggest driver in that increase in expenses was a $1.3 billion loss related to wildfires at its PacifiCorp unit.
Persons:
— Warren, Berkshire Hathaway, Berkshire didn't, Buffett, See's, hasn't, Josh Funk
Organizations:
Berkshire, Apple, Accounting, FactSet Research, BNSF, hathaway
Locations:
OMAHA, Neb, Berkshire, Omaha , Nebraska, berkshire