Berkshire's operating profit dropped 6% in the third quarter and repurchased $9.6 billion worth of shares

Berkshire Hathaway (BRK.A.US, BRK.B.US) announced on Saturday that its third-quarter operating profit declined due to weaker insurance underwriting performance, and said it repurchased $9.6 billion of shares during the quarter. This buyback is in addition to the $4.8 billion repurchased earlier this year. Quarterly operating profit fell 6% from $13.49 billion a year earlier to $12.71 billion, equivalent to about $8,954 per Class A share. Net profit dropped 28% to $22.11 billion, which includes unrealized gains and losses on stocks that Omaha, Nebraska-based Berkshire currently still holds.