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Berkshire Hathaway Q2 earnings rise YOY to $14.07B

Berkshire Hathaway Inc. reported a year-over-year increase in second-quarter attributable net earnings.

The Omaha, Neb.-based insurer posted second-quarter net earnings attributable to shareholders of $14.07 billion, or $8,608 per class A equivalent share, up from $12.01 billion, or $7,301 per class A equivalent share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized GAAP net income estimate for the quarter was $6.17 billion, with one analyst reporting.

Net earnings for the three-month period included a net gain in investments and derivatives of $7.93 billion, compared to $5.12 billion in the second quarter of 2018.

The investment gains include a gain of about $7.1 billion from changes in unrealized gains in the company's equity security investments. The investment gains also include after-tax realized gains of about $662 million on sales of investments. Berkshire Hathaway noted that its investment gains or losses are "usually meaningless" in any given quarter.

Second-quarter operating earnings amounted to $6.14 billion, versus $6.89 billion in the year-ago period. The operating income of its insurance-writing arm declined to $353 million from $943 million in the year-ago period, while insurance-investment income rose to $1.37 billion from $1.14 billion in the second quarter of 2018.

Berkshire Hathaway noted that its financial results for the period do not include its share of earnings and other comprehensive income from its stake in The Kraft Heinz Co.