Berkshire Posts Record Operating Profit, $35.9 Billion of Net Income

Berkshire Posts Record Operating Profit, $35.9 Billion of Net Income
Warren Buffett, chairman and CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Neb., on May 6, 2018. Rick Wilking/Reuters
Reuters
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Berkshire Hathaway on Saturday posted its highest ever quarterly operating profit, while gains from stock holdings helped the conglomerate led by billionaire Warren Buffett swing to a nearly $36 billion overall profit.

Rising interest rates, and better results at the Geico car insurer, allowed Berkshire’s insurance businesses to generate more money in the second quarter, with profit up 38 percent and interest and other investment income growing sixfold.