Berkshire Hathaway posts 7% gain in 2Q profit

By ANNE D’INNOCENZIO
AP Retail Writer

NEW YORK (AP) — Warren Buffett’s Berkshire Hathaway company reported a 7% gain in profit for the second quarter as many of the conglomerate’s businesses recovered from the coronavirus pandemic. 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.