Berkshire profit up 29 percent in Q3

(MENAFN) Earnings for US-based Warren Buffett's Berkshire Hathaway Inc. increased 29 percent in the July-September period of this year, Times of Oman reported. The firm's net profit hit USD5.05 billion, up from USD3.92 billion in the same period last year, representing an increase to USD3,074 per share against USD2,373 per share in the prior-year period. Investments made during the financial crisis brought big earnings for the company. Operating results, however, did not rise to expectations due to weakness in insurance operations. Earnings from investments during the period included USD1.4 billion from investments made by the company in General Electric Co. and Goldman Sachs Group Inc. in 2008.