Berkshire doubles buybacks to record $9.6 billion as earnings slip

· Economy · United States

Berkshire Hathaway said it accelerated its share repurchases in the third quarter, spending about $9.6 billion to buy back its own stock — more than double the prior period and a record — a sign executives viewed the shares as undervalued. Operating and overall profits took a hit as declining insurance underwriting weighed on results. The quarter was mixed for the conglomerate. Berkshire shares outperformed the S&P 500 this week as Wall Street swooned amid AI fears, and successor Greg Abel made few changes to the company's stock portfolio.

Why it matters：A record buyback from one of the world's largest conglomerates signals how major investors are positioning as AI jitters roil markets.

Key points

  • Berkshire spent about $9.6 billion on buybacks in the third quarter.
  • Declining insurance underwriting weighed on operating earnings.
  • The stock outperformed the S&P 500 this week.

Sources (original reporting)

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