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Berkshire Hathaway Inc said second-quarter profit climbed 46 per cent on Chairman Warren Buffett's derivative bets and gains at the company's railroad. Net income rose to $4.54 billion, or $2,763 a share, from $3.11 billion, or $1,882, a year earlier, the Omaha, Nebraska-based company said on Saturday in a regulatory filing. Operating earnings, which exclude some investment results, were $2,384 a share, beating the $2,166 average estimate of three analysts surveyed by Bloomberg.
Berkshire has benefited this year as the US economy rebounded and stocks rallied, boosting the value of Buffett's investments. The company's operating businesses, including railroad Burlington Northern Santa Fe, auto insurer Geico and utility MidAmerican Energy Holdings Co, do most of their business in the world's largest economy.
