Berkshire Hathaway 2Q profit rises By ANNA JO BRATTON, Associated Press Writer

Berkshire Hathaway 2Q profit rises By ANNA JO BRATTON, Associated Press Writer
1 hour, 16 minutes ago



OMAHA, Neb. - Billionaire Warren Buffett's holding company Berkshire Hathaway Inc. reported Friday that its net income jumped nearly 33 percent during the second quarter because of strong performance from its insurance division.

ADVERTISEMENT

Berkshire said it earned $3.1 billion, or $2,018 per Class A share during the quarter which ended June 30. That's up from $2.3 billion, or $1,522 per share, last year.

Berkshire said its companies and investments generated $27.3 billion in revenue for the quarter, up from $24.1 billion in the same period a year ago.

Berkshire Hathaway's Class A shares fell $100 Friday to close at $109,900 before the report was released. Its Class B shares gained $11 to close at $3,599.

Berkshire owns more than 60 subsidiaries including insurance, clothing, furniture, and candy companies, restaurants, natural gas and corporate jet firms and has major investments in such companies as Coca-Cola Co., Anheuser-Busch Cos. and Wells Fargo & Co.

___

On the Net:

Berkshire Hathaway Inc.: http://www.berkshirehathaway.com