Berkshire's operating earnings rise, buys $1 billion in stock.

By The Exchange Team

Berkshire Hathaway posted solid third-quarter operating profits despite recession fears, and Warren Buffett kept buying back stock.

The Omaha-based conglomerate's operating earnings include profits from all its businesses.

Like Insurance, railroads, and utilities accounted for $7.761 billion in the third quarter, up 20% from the previous year.

Insurance-investment income rose from $1.161B to $1.408B. Earnings from utilities and energy were $1.585B, up from $1.496B.

Insurance underwriting lost $962 million, while railroad earnings fell from $1.538 billion to $1.442 billion.

Berkshire spent $1.05B on share repurchases during the quarter, bringing the total for the 9 months to $5.25B.

The buyback pace was consistent with the $1 billion purchased in the second quarter.