Monday, August 8, 2016
Berkshire Hathaway earnings miss by $108 per share
Berkshire Hathaway reported second-quarter earnings that showed a jump in net income and a miss on operating earnings per share.
On Friday, the company headed by Warren Buffett reported operating earnings per share of $2,803 ($2,911 expected, according to Bloomberg) and net income of $5 billion, which rose 25% year-on-year.
This year, Berkshire closed a deal to buy Procter & Gamble's Duracell, and entered an agreement to acquire Precision Castparts to add to its investments.
Those transactions came as key businesses including BNSF Railway faced a slowdown in manufacturing and shipments.
Berkshire's Class A shares closed up 1.4%, or $3,180, at $218,010 apiece on Friday. They've gained 10% this year.