Berkshire Hathaway said late Friday that third-quarter net income came in at $4.55 billion, or $2,942 per class A share, up 64% from a year earlier when the the insurance-focused conglomerate run by Warren Buffett made $2.77 billion, or $1,797 a share. Investment and derivative gains of $1.99 billion, or $1,287 per class A share, accounted for all the gains in the period.

Operating income, which excludes net realized investment gains and losses, was $2.56 billion, or $1,655 per class A share, down slightly from a year earlier when Berkshire made an operating profit of $2.6 billion, or $1,684 a share, the company said.

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