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Business Briefing / Earnings

Profit jumps 14% at Buffett's firm

August 08, 2009|TIMES WIRE REPORTS

Warren Buffett's company reported a 14% jump in second-quarter profit Friday as the improving stock market boosted the value of Berkshire Hathaway Inc.'s derivative contracts and investments.

The Omaha company reported $3.3 billion in net income, or $2,123 a share, for the quarter that ended June 30. That's up from $2.88 billion, or $1,859 a share, in the same period a year earlier. Berkshire had revenue of $29.61 billion in the quarter, down slightly from $30.03 billion a year earlier.

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