Berkshire Hathaway (BRK-A) Q2 EPS Drops 37%

Warren Buffett's Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) posted its second quarter results after the close Friday. The company posted EPS of $2,442, versus $3,889 in the same quarter last year - a drop of 37%.

Operating earnings were $3.89 billion in the quarter, down 10% from last year. Net earnings attributable to Berkshire shareholders was $4.013 billion, also down 37% from last year.

The company posted consolidated revenues of $51.368 billion versus $49.762 billion last year. The lower income was related to higher costs and expenses for its Insurance unit. Cost at the unit rose to $36.632 billion this year from $31.830 billion last year.

You May Also Be Interested In

• PG&E downgraded by Wells Fargo, BMO as California wildfire reform falls short
• Argus Upgrades Abercrombie & Fitch (ANF) to Buy
• KeyBanc on National Fuel Gas (NFG): 'P&S Growth an Underappreciated Hedge to Weak Natural Gas Prices'