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Berkshire Hathaway posts huge quarterly loss; operating results improve

08/06/2022 | 08:31am

(Reuters) - The slide in U.S. stock prices punished Berkshire Hathaway Inc's bottom line in the second quarter as the company run by billionaire Warren Buffett posted a $43.8 billion loss, though operating results improved with better results from insurance and the BNSF railroad.

Berkshire's net loss was equivalent to $29,754 per Class A share. Net income had been $28.1 billion, or $18,488 per Class A share, a year earlier.

Quarterly operating profit rose 39% to $9.28 billion, from $6.69 billion, or $4,424 per Class A share, a year earlier.

Berkshire also repurchased $1 billion of its own stock in the quarter, and has repurchased $4.2 billion this year.

(Reporting by Jonathan Stempel in New York; editing by Jason Neely)

© Reuters 2022
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