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Article: Berkshire Hathaway's 2Q profit jumps 14 percent
- Article from:
- AP Online
- Article date:
- August 8, 2009
- Author:
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Warren Buffett's company on Friday reported a 14 percent jump in second-quarter profit as the improving stock market boosted the value of Berkshire Hathaway Inc.'s derivative contracts but the recession continued to weigh on its operating businesses.
The Omaha-based company reported $3.3 billion in net income, or $2,123 per share, for the quarter ending June 30. That's up from $2.88 billion, or $1,859 per share, in the same period a year ago.
The three analysts surveyed by Thomson Reuters on average expected Berkshire to report earnings per share of $1,238.38.
"The headline number looks better because of the derivatives, but it wasn't the greatest quarter," ...