Profit at Warren Buffett’s Berkshire Hathaway rises 17%
NEW YORK (AP) – Berkshire Hathaway, the conglomerate controlled by billionaire Warren Buffett, says its second-quarter profit rose 17% as its gains from its investments rose.
Berkshire owns several companies, including battery maker Duracell and underwear seller Fruit of the Loom.
It also has major investments in well-known corporations, including soda company Coca-Cola Co. and iPhone maker Apple Inc.
Omaha, Nebraska-based Berkshire said it had net income of $14 billion, or $8,608 per Class A share, in the April to June quarter.
That’s up from $12 billion, or $7,301 per Class A share, in the same quarter a year ago.
