Home / World News / Buffet's Berkshire Hathaway Q2 profit up 87% despite near-$10 bn writedown

Buffet's Berkshire Hathaway Q2 profit up 87% despite near-$10 bn writedown

Berkshire Hathaway Inc. said Saturday that it earned $26.3 billion, or $16,314 per Class A share, during the second quarter

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Berkshire was holding nearly $147 billion cash and short-term investments at the end of the second quarter, but Buffett did use $5.1 billion during the quarter to repurchase Berkshire shares. | Photo: Shutterstock

AP | PTI Omaha

2 min read Last Updated : Aug 09 2020 | 11:10 PM IST

Warren Buffett's company reported an 87% jump in its second-quarter profit as the value of its investment portfolio increased with the stock market, but it took a roughly $10 billion write down on the value of its aircraft parts manufacturing business because of the economic impact of the coronavirus pandemic.

Berkshire Hathaway Inc. said Saturday that it earned $26.3 billion, or $16,314 per Class A share, during the second quarter. That's up from $14.1 billion, or $8,608 per share, a year ago.

Berkshire said it cut the value of its Precision Castparts unit because of how much the pandemic has hurt air

Topics : Coronavirus Berkshire Hathway Warren Buffet Q2 results

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