Berkshire Hathaway Beats Earnings Estimates By $476 A Share

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Photo: AP

Warren Buffett’s Berkshire Hathaway handily beat second quarter earnings estimates, even as net income fell 9 per cent to $3.11 billion.The conglomerate recorded operating earnings of $2,252 per share, ahead of estimates from a Bloomberg survey of $1,776.

Derivatives weighed on the company’s results, with Berkshire recording a loss of $693 million on movements in contracts tied to equity indices.

Revenues advanced less than one per cent during the second quarter, to $38.5 billion.

Shares are up nearly two per cent in after-hours trade.

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