Berkshire Profit Jumps 25% on New Manufacturers, Insurance
- Precision Castparts, Duracell help results at Buffett’s firm
- Operating profit of $2,803 a share misses analysts’ estimates
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Warren Buffett’s Berkshire Hathaway Inc. said second-quarter profit rose 25 percent on earnings from newly acquired manufacturing businesses and improved results at insurance operations.
Net income climbed to $5 billion from $4.01 billion a year earlier, the Omaha, Nebraska-based company said Friday in a statement. Operating earnings, which exclude some investment results, were $2,803 a share, missing the average $2,911 estimate of three analysts surveyed by Bloomberg.