Berkshire Hathaway spent about $9.6 billion on share buybacks in the third quarter, even as operating earnings fell 5.8% year-on-year to $12.7 billion. Insurance underwriting dropped 43% on higher Geico losses, while cash reserves rose to $377.4 billion. CEO Greg Abel has also pushed into AI investments, including $10 billion for Alphabet.
Berkshire buys back $9.6 billion in shares as earnings fall
Source: Moneycontrol