Berkshire Profit Beats Estimates as Railroad Results Improve
This article is for subscribers only.
Warren Buffett’s Berkshire Hathaway Inc. said second-quarter profit beat analysts’ estimates as earnings climbed at its utility business and railroad.
Net income rose to $4.54 billion, or $2,763 a share, from $3.11 billion, or $1,882, a year earlier, on gains in Buffett’s derivative bets, the Omaha, Nebraska-based company said yesterday in a filing. Operating earnings, which exclude some investment results, were $2,384 a share, exceeding the $2,166 average estimate of three analysts surveyed by Bloomberg.