Warren Buffett's Berkshire Hathaway Beats Earnings Estimates

Warren Buffett's Berkshire Hathaway posted third quarter financial results after the bell on Friday. Earnings per share came in at $2,811, adjusted for investment and derivative losses, beating estimates by FactSet of $2,560.29 per share. Last year's net income stood at $2,227.99 per share. The company posted revenue of $51.2 billion, compared to FactSet's forecast of $51.3 billion and higher than last year's $46.5 billion. The Omaha, Nebraska-based conglomerate owns over 80 companies, from utilities to railroads to insurance companies. Shares are up 20.8% since the start of the year. TheStreet's Scott Gamm has details from New York.