BERKSHIRE HATHAWAY PUBLISHES 43.8 BILLION LOSSES OF $ 43.8 BILLION IN SECOND QUARTER DUE TO MARKETS
(Reuters) – Berkshire Hathaway, the company managed by billionaire Warren Buffett, reported a second-quarter loss of $ 43.8 billion due to the collapse of US stock markets, after a net profit of $ 28.1 billion a year ago.
However, the group saw an improvement in its operating result thanks to insurance and activities in the railway sector.
Its operating profit increased 39% to $ 9.28 billion over the period.
During this quarter, Berkshire Hathaway made a $ 1 billion share buyback.
Investors closely follow Berkshire Hathaway because, with its ten assets, its results generally reflect general economic trends.
(Report Jonathan Stemp, French version Matthieu Protard)
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