Warren Buffett's Berkshire Hathaway Inc. said third-quarter profit fell 24% to $2.28 billion, as losses in the company's derivatives portfolio offset improved results elsewhere in the huge conglomerate.
沃伦•巴菲特(Warren Buffett)麾下伯克希尔•哈撒韦公司(Berkshire Hathaway Inc.)发布财报显示，公司第三季度利润下跌了24%，至22.8亿美元，原因是这个庞大企业在衍生品投资组合方面的亏损抵消了在别的领域业绩的提升。
The derivatives losses are largely an accounting matter for now and don't require Berkshire to part with any of its $35 billion cash hoard. Mr. Buffett has called the large quarterly swings in the derivatives portfolio 'meaningless' and said operating results are the better gauge of Berkshire's performance.
目前来看，衍生品亏损在很大程度上是个会计问题，伯克希尔公司并不需要为此与其350亿美元现金的任何一部分挥手告别。巴菲特说，衍生品投资组合的大幅季度性波动"毫无意义"，运营业绩才是衡量伯克希尔公司表现的更好指标。
By that measure, Berkshire's results improved in the quarter. Operating earnings were $3.81 billion, or $2,309 per Class A share, compared with $2.79 billion in last year's third quarter. Analysts surveyed by Thomson Reuters had expected operating profit of $1,796 a share.
从运营角度来看，伯克希尔公司第三季度的业绩有所提升，运营利润为38.1亿美元，A类股每股收益2,309美元，高于去年第三季度27.9亿美元的利润。接受汤森路透(Thomson Reuters)调查的分析师原先预计，伯克希尔公司的每股运营利润为1,796美元。
The 37% increase was driven by a large re-estimation of reserves at one of its reinsurance operations, the just-completed acquisition of chemicals maker Lubrizol Corp., and larger profits at several other units, including railroad Burlington Northern Santa Fe and energy unit MidAmerican.
运营利润37%的同比增长受到两方面的推动：一是对伯克希尔再保险业务之一(刚刚完成的对化学品制造商Lubrizol Corp.的收购)准备金进行的大规模重估，二是它旗下铁路公司Burlington Northern Santa Fe和能源公司MidAmerican等几个子公司实现了较大的利润。
Berkshire, which announced a share-buyback program in late September, said it spent $17.9 million on its own shares between Sept. 26, the day it began the buybacks, and the end of the quarter four days later.
今年9月末曾宣布了股票回购计划的伯克希尔说，从开始回购的9月26日起至四天后的第三季度末，公司共回购了1,790万美元的股票。
Berkshire spent a much larger sum
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