Berkshire profit surges as insurance, other businesses gain

[August 04, 2018]  (Reuters) - Berkshire Hathaway Inc on Saturday reported a 67 percent increase in quarterly operating profit, as its insurance underwriting operations rebounded from a poor quarter and several business units benefited from economic growth and improving demand.

Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking

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Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha
Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking
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Operating profit in the second quarter rose to $6.89 billion from $4.12 billion a year earlier.

Net income for Omaha, Nebraska-based Berkshire, including realized and unrealized gains and losses from investments, nearly tripled to $12.01 billion, or $7,301 per Class A share, from $4.26 billion, or $2,592 per Class A share, a year earlier.

(Reporting by Jonathan Stempel in New York; Editing by James Dalgleish)

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