Berkshire Hathaway profit falls as insurance underwriting declines


Berkshire Hathaway Chairman Warren Buffett seen at the annual Berkshire shareholder shopping day in Omaha, Nebraska, U.S., May 3, 2019.

Scott Morgan | Reuters

Berkshire Hathaway on Saturday said its quarterly operating profit fell, as the conglomerate run by billionaire Warren Buffett reported less income from insurance underwriting.

Second-quarter operating profit declined 11% to $6.14 billion from $6.89 billion a year earlier.

Berkshire also said quarterly net income rose 17%, reflecting larger gains from investments than a year earlier.

Net income rose to $14.07 billion, or $8,608 per Class A share, from $12.01 billion, or $7,301 per Class A share, a year earlier.

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