Berkshire Profits Are Up

Berkshire Hathaway Inc. said its third-quarter profit rose 17 percent as gains at its insurance operations were partly offset by lower results at its shoe and encyclopedia businesses.

Profit from operations increased to $129.3 million, or $109 a share, from $110.5 million or $94, said Berkshire Hathaway, an insurance and investment company controlled by Warren Buffet.

An investment gain of $43.2 million, or $36 a share, resulted in third-quarter net income of $172.5 million, or $145 a share.