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Berkshire profit soars 41 pct, helped by investment gains
August 1, 2014 / 9:11 PM / 3 years ago

Berkshire profit soars 41 pct, helped by investment gains

Aug 1 (Reuters) - Warren Buffett’s Berkshire Hathaway Inc on Friday said second-quarter profit soared 41 percent, reflecting a substantial increase in investment gains and improved results in businesses not related to insurance.

Net income rose to $6.4 billion, or $3,889 per Class A share, from $4.54 billion, or $2,763 per share, a year earlier.

Quarterly operating profit rose 11 percent to $4.33 billion, or $2,634 per Class A share, from $3.92 billion, or $2,384 per share.

Analysts on average expected operating profit of $2,482 per Class A share, according to Thomson Reuters I/B/E/S. Book value per share, Buffett’s preferred measure of growth, has risen 5.6 percent this year to $142,483. (Reporting by Luciana Lopez in Grand Lake Stream, Maine and Jonathan Stempel in New York; Editing by David Gregorio)

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