Berkshire profit surges as insurance, other businesses gain

August 4, 2018

(Reuters) – Berkshire Hathaway Inc on Saturday reported a 67 percent increase in quarterly operating profit, as its insurance underwriting operations rebounded from a poor quarter and several business units benefited from economic growth and improving demand.

Operating profit in the second quarter rose to $6.89 billion from $4.12 billion a year earlier.

Net income for Omaha, Nebraska-based Berkshire, including realized and unrealized gains and losses from investments, nearly tripled to $12.01 billion, or $7,301 per Class A share, from $4.26 billion, or $2,592 per Class A share, a year earlier.

(Reporting by Jonathan Stempel in New York; Editing by James Dalgleish)

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August 04, 2018 at 05:55PM
from One America News Network