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Berkshire Hathaway Reports 16 Percent Increase in Second-Quarter Operating Earnings
Just the facts
Financial conglomerate Berkshire Hathaway released its second-quarter financial results, reporting a 16 percent increase in operating earnings compared to the same period in the prior year. The Omaha, Nebraska-based company also executed $4.5 billion in stock repurchases during the quarterly period. The profit expansion was driven by operational gains across the conglomerate's insurance underwriting and investment divisions. Corporate disclosures indicated that the business maintained strong cash reserves following the share repurchases.
Why this is news
Berkshire Hathaway reported a 16 percent increase in second-quarter operating earnings alongside $4.5 billion in stock buybacks.
Sources
This summary is compiled strictly from the original reporting below.