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Berkshire Hathaway Q2 operating earnings down 10 percent

Staff writer |
Berkshire Hathaway announced its resuluts for the second quarter. Operating earnings fell 10 percent, hit by a $38 million loss for its insurance underwriting businesses.

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That segment generated $411 million in profits during the same period last year.

The company had $3.9 billion in profits for the three months ending on June 30, down 10 percent from $4.3 billion in last year's second quarter. That is $2,367 per Class A share.

Profits at Berkshire's non-insurance businesses increased by almost 11 percent to $3.1 billion. They have been playing a larger role for Berkshire in recent years as the company made big investments in the BNSF railroad and Kraft Heinz.

Berkshire said it had a book value of just under $150,000 per share as of June 30.

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