Short answer
Berkshire Hathaway Inc (BRK-A) filed its Q3 2025 10-Q quarterly report on Nov 3, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $63.7B (up 2.7% year over year) with net income of $30.8B.
Q3 2025 key financials · XBRL
- Revenue
- $63.7B
- +2.7% YoY · +3.8% QoQ
- Net income
- $30.8B
- +17.3% YoY · +149.0% QoQ
Source: XBRL data from the Berkshire Hathaway Inc (BRK-A) Q3 2025 10-Q on SEC EDGAR. USD.
Berkshire Hathaway Inc Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Quarterly revenue and net earnings $102.5B and $30.8B Q3 2025 vs $97.6B and $26.3B Q3 2024; 17.3% net earnings increase YoY
- Operating margin manufacturing 18.9% YTD (pre-tax $9.5B/$58.8B) vs 18.0% YTD 2024; BNSF pre-tax margin 35.8% Q3 2025 vs 34.9% Q3 2024
- Best segment: Manufacturing, service and retailing earnings up 8.2% Q3 2025 vs 2024; Worst: Pilot pre-tax earnings down 107.8% Q3 ($-234M) due to lower fuel/trading margins
- Cash and equivalents $354.3B with consolidated net operating cash flows $34.8B YTD; capital expenditures $14.7B including BNSF/BHE $10.1B
- Outlook cautious: Ongoing macro/geopolitical risks, especially wildfires, lower insurance investment income (-13.2% Q3), and regulatory tax changes affecting energy business noted
Risk Factors
- No new or updated risk factors disclosed this quarter versus 2024 10-K
- Significant risks include market volatility affecting investment portfolios and insurance underwriting exposures
- Regulatory risk includes ongoing compliance with insurance and financial services regulations across multiple jurisdictions
- Operational risk centers on maintaining underwriting discipline amid competitive insurance market conditions
- Financial risk involves exposure to fluctuating interest rates impacting investment income and liquidity management
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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