Warren Buffett’s Berkshire Hathaway reported a 7 per cent increase in profits in the second quarter, with many of the companies owned by the sprawling conglomerate benefiting from the economic recovery.
The investment company disclosed on Saturday that it had earned $28.1bn, or $18,488 per class A share, in the three months to the end of June.
Operating earnings, which strip out the swings in value of Berkshire’s investments and which Buffett uses as a preferred gauge of the company’s business performance, rose 21 per cent from a year prior to $6.7bn.
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