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Berkshire Hathaway Reports Strong Q3 Results Ahead of Warren Buffett’s Retirement
Berkshire Hathaway (NYSE: BRK.A, NYSE: BRK.B) has reported a 34% increase in its operating profit for Q3 2023, rising to $13.5 billion, while net income increased by 17% to $30.8 billion. This report comes as Warren Buffett, the company’s long-time CEO, prepares to retire at the end of the year.
The company finished the quarter with a record $381.7 billion in cash and has not repurchased any of its shares for five consecutive quarters. Berkshire Hathaway is currently a net seller of stocks, having sold more than purchased over the past 12 quarters, yet has a significant investment portfolio valued over $306 billion.
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