Berkshire Hathaway more than doubles buybacks in third quarter as earnings decline

Berkshire Hathaway more than doubled its share buybacks in the third quarter even as both operating and overall earnings declined, the company disclosed Saturday. The conglomerate repurchased its own stock at a faster pace than in the prior period, signaling confidence in its valuation despite softer results. The earnings pullback and heavier capital deployment come as investors scrutinize how CEO Warren Buffett is putting Berkshire's large cash pile to work. The buyback acceleration matters because it shows management leaning on repurchases to support per-share value when operating profit weakens. Next, watch whether Berkshire sustains the elevated buyback pace in the fourth quarter and how its cash reserves and insurance results trend.