Nov. 1 (UPI) -- Berkshire Hathaway has a record-high cash reserve of $381.7 billion after increasing its third-quarter earnings by 34% from a year ago, the firm said in its quarterly report on Saturday.
Berkshire Hathaway generated $13.485 billion in revenue during the third quarter, which is a 34% increase from $10.1 billion a year earlier.
"Investment income continues to benefit from rising cash balances and relatively high, though declining, yields on cash and short-term securities," Edward Jones analyst James Shanahan wrote after the earnings report was released, as reported by MarketWatch.
Income from insurance underwriting topped $2.37 billion during the quarter, which was a 200% increase, partly due to relatively little by way of natural disasters and other common drivers of catastrophic losses.
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