Berkshire Hathaway Q2 Profit Rises

(RTTNews) - Berkshire Hathaway Inc. (BRK.A) reported that its second-quarter net earnings attributable to shareholders increased to $12.01 billion from $4.26 billion, prior year. Net earnings per average equivalent class A share was $7,301 compared to $2,592. Net earnings per average equivalent class B share was $4.87 compared to $1.73. The company noted that its second-quarter net earnings include investment and derivative gains of $5.12 billion. Operating earnings increased to $6.89 billion from $4.12 billion.

Second-quarter total revenues increased to $62.20 billion from $57.26 billion, prior year. Analysts polled by Thomson Reuters expected revenue of $61.57 billion for the quarter.

For the second-quarter, insurance and other revenues were $48.94 billion compared to $45.42 billion, previous year. Railroad, Utilities and Energy operating and other revenues increased year-over-year to $10.90 billion from $9.82 billion.