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Berkshire Hathaway Q2 Profit Up 17%

Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported a profit for the second-quarter that increased 17 percent from last year, reflecting higher unrealized gains on investments. But, quarterly operating profit declined 11 percent.

The company's second-quarter net earnings attributable to shareholders rose 17% to $14.07 billion, from last year's $12.01 billion, with earnings per share increasing to $8,608 per Class A share from $7,301 per Class A share in the previous year.

But, quarterly operating profit declined 11 percent to $6.14 billion from $6.89 billion in the prior year.

Berkshire stated that Kraft Heinz's financial statements for the first and second quarters of 2019 were not yet available to the company. So, Berkshire's consolidated Financial Statements for the second quarter of 2019 excluded its share of the earnings and other comprehensive income of Kraft Heinz for those period.

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