Berkshire Hathaway Inc. (NYSE: BRK-A)(NYSE: BRK-B) reported late Friday that its third-quarter net income slipped 7.7% on losses tied to derivative contracts. Net income dropped to $2.99 billion, or $1,814 per Class A share, from $3.24 billion, or $2,087 per Class A share, in the year-earlier quarter. Excluding investment and derivative gains and losses, operating earnings for the third quarter were $2.79 billion or $1,692 per Class A share, compared to $2.06 billion or $1,325 per Class A share in the year-ago quarter. Revenue climbed to $36.27 billion from $29.90 billion in the same quarter last year. Analysts, on average, expected the company to earn $1,676.67 per Class A share on revenue of $33.68 billion.
Markel Corp. (NYSE:
MKL) reported that its third-quarter net income improved to $63.3 million, or $6.48 per share, from $59.1 million, or $6.02 per share, in the year-earlier quarter. Total operating revenues rose to $561.35 million from $500.35 million. Analysts, on average, expected the company to report earnings of $3.58 per share on revenue of $532.54 million.
Medivation Inc. (NASDAQ:
MDVN) said Friday that its third quarter net loss narrowed to $5.44 million, or 16 cents per share, from $13.97 million, or 42 cents per share, in the year-ago quarter. Revenue dropped to $14.35 million from $16.34 million. Analysts, on average, expected the company to post a loss of 21 cents per share on revenue of $16.03 million.
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