Fairfax records net loss of $75M in Q3, while revenues rise

Fairfax says it recorded a net loss of US$75.1 million in the third quarter, down from earnings of $462.4 million in the third quarter of last year.

The Toronto-based holding company, which reports in U.S. dollars, says its earnings resulted in a loss of $3.65 per diluted share compared to $16.22 in earnings per diluted share the year before. 

Fairfax says it saw net losses on investments total $519.1 million on bonds as interest rates rose, as well as stocks and currency exchange.