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Berkshire Hathaway's Q2 profit rises 87%

Written by Adam Cadle
10/08/2020

Berkshire Hathaway's second-quarter net earnings attributable to shareholders rose 87% to $26.30bn from last year's $14.07bn, as the value of its investment portfolio increased with the stock market.

Investment gains of around $31bn were recorded in Q2 2020. For H1 2020, investment losses of $23.5bn were recorded.

Approximately $5.1bn was used to repurchase Berkshire shares during the second quarter bringing the six month total to $6.7bn.

At 30 June 2020, insurance float (the net liabilities the insurer assumes under insurance contracts) was approximately $131bn, an increase of $2bn since year end 2019.

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