NEW YORK (AP) — Warren Buffett’s Berkshire Hathaway company reported a 7% gain in profit for the second quarter as the conglomerate saw improvements in its railroad, utilities and energy companies.
Berkshire Hathaway, based in Omaha, Nebraska, said Saturday that it earned $28.1 billion, or $18,488 per Class A share, during the second quarter.
A year earlier, Berkshire reported a profit of $26.3 billion, or $16,314 per Class A per share.
Buffett has long said Berkshire’s operating earnings offer a better view of quarterly performance because they exclude investments and derivatives, which can vary widely.
By that measure, Berkshire’s operating earnings improved to $6.7 billion during the quarter from $5.5 billion in the year-ago period.