Berkshire Hathaway more than doubles buybacks to $9.6 billion as profit falls

Berkshire Hathaway reported lower third-quarter profits on Saturday, 7 November 2026, while it sharply increased share repurchases. The conglomerate bought back about $9.6 billion of its own stock in the quarter. Operating earnings fell 5.8% to $12.705 billion.

The company posted a 28% decline in quarterly net income after investment gains shrank, according to the reports published on the day. Insurance operations also reported lower profits.

What happened

Berkshire spent roughly $9.6 billion on its own shares in the third quarter. That is more than twice what it spent in the second quarter.

Operating earnings, which exclude the swings in investment results, fell 5.8% to $12.705 billion. The decline came from weaker insurance underwriting results and lower investment income. Net income fell more sharply, by 28%, because gains on investments slumped compared with the earlier period.

Why it matters

Berkshire is a large conglomerate with insurance at its core, so its results are a widely followed gauge of both the insurance cycle and the value of its investment portfolio. The gap between the operating decline of 5.8% and the net income decline of 28% shows how much the reported bottom line depends on investment gains, which can change from one quarter to the next.

The larger buyback also stands out. A company repurchases its shares when it chooses to return capital to shareholders by reducing the number of shares outstanding. The reports describe the amount as more than twice the previous quarter, and they present it alongside the earnings decline.

What to watch next

The next points of reference are the company's following quarterly results, which will show whether underwriting and investment income stabilize. Readers can also compare the pace of buybacks in the coming quarters with the third-quarter figure. The reports state no further company guidance or dates.

What to expect at the open

The results came out on a Saturday, after the close of US markets, so trading in Berkshire shares will reopen with the figures already public. Asia opens first on Monday morning, followed by Europe and then the United States. The reaction of Berkshire shares will be the main point of attention once US trading resumes.