Berkshire Hathaway shares fall after Q3 earnings

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Shares of Berkshire Hathaway Inc.












BRK.B, -0.71%











BRK.A, -1.05%










fell 1% late Friday after the conglomerate led by legendary investor Warren Buffett reported adjusted per-share earnings under expectations and falling third-quarter operating earnings that included a $1.4 billion loss in insurance underwriting. All told, operating earnings fell to $3.44 billion in the third quarter, from $4.85 billion a year ago. Berkshire reported net earnings of $4.07 billion in the third quarter, compared with $7.20 billion a year ago. Net earnings per Class A share fell to $2,473, compared with $4,379 a Class A share a year ago. Analysts polled by FactSet had expected the loss from underwriting to be around $1.29 billion, and forecast adjusted earnings per Class A share at $2,385.40.

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