Buffett’s Cash Soars to Record as Operating Profit Edges Higher - Bloomberg
'Operating earnings climbed 6.6 percent in the third quarter to $4.85 billion, or $2,951 a share, driven by contributions from manufacturing businesses. '
'Part of the increase in cash during the quarter came from the sale of preferred stock in chewing-gum maker Wrigley. '
'Those two businesses pushed profit at the manufacturing, service and retail segment up 45 percent to $1.7 billion in the quarter. '
'One of the best ways for Buffett to deploy the cash pile could be to purchase his company’s stock, said Jim Shanahan, an analyst at Edward Jones. '
'It contributed $932 million in profit, compared with $786 million a year earlier, on higher electric rates and increased wholesale volumes. '
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'Operating earnings climbed 6.6 percent in the third quarter to $4.85 billion, or $2,951 a share, driven by contributions from manufacturing businesses. '
'Part of the increase in cash during the quarter came from the sale of preferred stock in chewing-gum maker Wrigley. '
'Those two businesses pushed profit at the manufacturing, service and retail segment up 45 percent to $1.7 billion in the quarter. '
'One of the best ways for Buffett to deploy the cash pile could be to purchase his company’s stock, said Jim Shanahan, an analyst at Edward Jones. '
'It contributed $932 million in profit, compared with $786 million a year earlier, on higher electric rates and increased wholesale volumes. '
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