UPDATE: Berkshire Hathaway Q3 Profit Surges 72%

Berkshire Hathaway

reported a 72% rise in its third-quarter profit. Its operating earnings fell 11% in the same period. Berkshire Hathaway's quarterly net income surged to $3.92 billion, or $1.58 per Class B share, versus $2.28 billion, or $0.92 per share, in the year-ago period. Its revenue rose to $41.05 billion from $33.74 billion. However, analysts were expecting earnings of $1.38 per share on revenue of $39.04 billion. Berkshire Hathaway shares dropped 0.01% to $86.92 in after-hours trading.