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Warren Buffett's Berkshire Hathaway swings to Q2 profit, operating earnings up 6%

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Buffett’s Berkshire Hathaway swings to Q2 profit, trims buybacks from Q1

Warren Buffett’s Berkshire Hathaway swung to a profit in the second quarter owed to its investment portfolio and insurance holdings, according to a release out Saturday.

Berkshire’s BRK.A, -1.37% BRK.B, -1.08% after-tax operating earnings, a figure Warren Buffett wants shareholders to and which excludes some investment results, rose 6% to just over $10 billion from $9.3 billion a year earlier. Regulations do require Berkshire to include unrealized gains and losses from its investment portfolio when it reports its net income.

Reduced buybacks did come alongside appreciation in Berkshire stock, which was up 10% in the second quarter.

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Berkshire Hathaway’s operating earnings rise nearly 7%, cash pile approaches $150 billionBerkshire Hathaway reported a solid increase in operating earnings, while the cash hoard at Warren Buffett's conglomerate swelled to nearly $150 billion.
Source: CNBC - 🏆 12. / 72 Read more »