 "Warren Buffett")
Warren Buffett's Berkshire Hathaway Inc said on Saturday that disruptions to the global supply chain kept a lid on its ability to generate profit, while rising equity prices caused it to sell some stocks and boost its cash hoard to a record.
Operating profit fell short of analyst forecasts, hurt by the disruptions as well as costs associated with Hurricane Ida and flooding in Europe, causing underwriting losses at the Geico car insurer and other insurance businesses to more than triple.
Berkshire also said it repurchased $7.6 billion of its own stock in the third quarter and $20.2 billion this year, reflecting
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
