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New York (APA / Reuters) – Warren Buffett's US investment Berkshire Hathaway has doubled its third quarter earnings, thanks to strong insurance activities and reduced taxes.
The operating result reached $ 6.88 billion ($ 6.03 billion) after $ 3.44 billion a year ago, the company based in Omaha, Nebraska said Saturday. As a result, profits nearly reached the second quarter of $ 6.89 billion. Analysts expected $ 6.11 billion.
Insurance earned $ 441 million, after a loss of $ 1.4 billion in the prior year quarter, as a result of lower claims. Last year, regulatory costs related to the damage caused by three hurricanes and an earthquake in Mexico had a negative impact.
Buffett, 88, has been at Berkshire Hathaway for more than 50 years. The group is active in the sectors of insurance, energy, railways, food, clothing and real estate.
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