new york (reuters) – berkshire hathaway announced friday a profit decline of 15% in the second quarter, due to a decrease in capital gains on its portfolio of investments and a decrease in its insurance business.
the multi group of warren buffett has made in the second quarter net income of $4.26 billion (3.61 billion), $2592 class a share, compared with $5 billion, or $3.042 per share, in the same period a year earlier.
the operating profit declined by 11% to 4.12 billion, 2.505 dollars per class a share, compared with 4.6 billion, 2.803 dollars per share.
analysts expected an average operating profit of about $2.791, according to thomson reuters, the consensus i / b / e / s
warren buffett believes that the operating profit is a better indicator of the health of 90 group’s activities as net income, which varies more in terms of capital gains on its investments. these have decreased by 51% compared to a year ago.
the book value per share, as warren buffett as a more reliable measure of the value of the group increased by 2.7% compared to the end of march to 182.816 dollars.
the class a share of 1.629,80 group had a gain of $270000 dollars, a record high.
“they have done a good quarter,” said bill smead, chief executive of smead capital management. ” the results reflect the positioning of berkshire in the u.s. economy.
the benefit of railway bnsf group increased from 24 per cent in the second quarter, to $958 million.
the insurance activities are, however, a loss of 22 million, compared with a profit of $337 million a year earlier, due, inter alia, by group, the effects of the exchange rate.
(jonathan stempel, catherine mallebay – vacqueur for service in french).
copyright & copy;, thomson reuters
Translated by forexguides.info Team