Net income totaled $35.91 billion, compared with a $43.62 billion loss during the second quarter last year. The strong results were bolstered by a jump in Berkshire's insurance underwriting and investment income.led the market rally in the second quarter. The tech giant soared nearly 18% during the quarter and Berkshire's bet has ballooned to $177.6 billion.Berkshire's massive cash pile grew to $147.377 billion at the end of June, near a record and much higher than the $130.
Share repurchase activity slowed down as the conglomerate's stock climbed back to a record high. The company spent just about $1.4 billion in buybacks during the quarter, bringing the year-to-date total to $5.8 billion. The conglomerate's Class A shares hit a new record close of $541,000 on Thursday, exceeding the conglomerate's previous high of $539,180 reached on March 22, 2022. The stock has gained 13.8% this year.