BERKSHIRE HATHAWAY POSTS $43.8 BILLION LOSS IN SECOND QUARTER DUE TO MARKETS
(Archyde.com) – Berkshire Hathaway, the company run by billionaire Warren Buffett, reported a second-quarter loss of $43.8 billion as U.S. equity markets tumbled, after a net profit of $28.1 billion a year ago.
The group has nevertheless seen its operating profit improve thanks to insurance and activities in the railways.
Its operating profit increased over the period by 39% to 9.28 billion dollars.
During this quarter, Berkshire Hathaway carried out a share buyback for a billion dollars.
Investors follow Berkshire Hathaway closely because, with its ten businesses, its results generally reflect general economic trends.
(Report Jonathan Stemp, French version Matthieu Protard)