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8/3, 2:03 PM (Source: TeleTrader)
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Berkshire Hathaway's net earnings in Q2 rise 17.1% YoY

Warren Buffet's conglomerate Berkshire Hathaway reported on Saturday that its net earnings attributable to shareholders in the second quarter of the year stood at $14.07 billion, a 17.1% increase on an annual basis. In the same timeframe, its operating income dropped 10.9% year-over-year. Earnings from the company's insurance-investment business rose 19.6% in the second quarter, while the railroad, utilities and energy segments increased by around 3%. Other segments were stagnant or booked losses, as indicated in the operating income numbers.

In the first six months of 2019, Berkshire Hathaway shareholder's earnings amounted to $35,73 billion, over 220% more compared to the first half of 2018. Berkshire notes that, as of today, Kraft Heinz's financial statements for the first and second quarters of 2019 were not yet available, due to which its shares were excluded from the report.

The company also notes that, by the end of June, net liabilities it assumed under insurance contracts were approximately $125 billion, an increase of $2 billion in the past six months.

Breaking the News / MA