Warren Buffett's Berkshire Hathaway Inc, in its latest financial statement released on Saturday, revealed its first quarterly loss in a year, primarily attributed to the decline in the value of its

stock holdings. However, improved performance in its insurance operations significantly boosted its operating profit.

During the third quarter, Berkshire Hathaway reported a net loss of $12.77 billion, equivalent to $8,824 per Class A share. This was a stark contrast to the same period in the previous year when the company posted a $2.8 billion loss.

On a positive note, the company's operating profit surged by 41% to $10.76 billion, translating to $7,444 per Class A share, as compared to $7.65 billion during the corresponding quarter in the previous year.

Additionally, Berkshire Hathaway disclosed that it had repurchased $1.1 billion of its own stock during the quarter and had bought back approximately $7 billion worth of shares throughout the current year. Photo by Mark Hirschey, Wikimedia commons.