|
RAPAPORT... Berkshire Hathaway Inc. reported that its revenue improved 13.4 percent year on year to $46.541 billion for the third quarter that ended on September 30. Costs and expenses rose 11.5 percent to $39.163 billion. Earnings jumped 28.9 percent to $5.053 billion.
Without providing hard totals, Berkshire reported that its retailing segment experienced a stronger performance during the period, attributing this result primarily to having included revenue and earnings from the Oriental Trading Company, which Berkshire acquired in November 2012, and improved comparative results from the home furnishings and jewelry business groups. Berkshire operates four home furnishings businesses, Nebraska Furniture Mart, R.C. Willey, Star Furniture and Jordan’s; three jewelry businesses, Borsheims, Helzberg Diamonds and Ben Bridge Jewelers; See’s Candies; Pampered Chef and Oriental Trading Company. The company's retail segment revenue increased 18.1 percent year on year to $944 million and operating earnings rose 33.3 percent to $48 million.
Since the beginning of 2013, Berkshire’s shareholders’ equity has increased $20.7 billion and its book value per ''Class A'' equivalent share had grown by 11 percent to $126,766 as of September 30. The increase in shareholders’ equity is the net of a reduction in Berkshire’s shareholders’ equity of approximately $1.2 billion, or about $730 per Class A equivalent share, according to the firm.
|