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Berkshire Hathaway Q2 operating earnings down YOY

Berkshire Hathaway Inc. has reported lower second-quarter operating earnings and net earnings attributable to shareholders year over year.

Operating earnings were $4.12 billion, or $2,505 per class A equivalent share, compared with $4.61 billion, or $2,803 per class A equivalent share, in the year-ago quarter. Net earnings attributable to shareholders were $4.26 billion, or $2,592 per class A equivalent share, down from $5.00 billion, or $3,042 per class A equivalent share, in the second quarter of 2016.

Investments and derivatives gains in the quarter were $143 million, compared with net gains of $394 billion in the year-ago period.

The company posted an insurance underwriting loss of $22 million, a decrease year over year from income of $337 million. Investment income in the insurance segment was $965 million, compared with $978 million in the second quarter of 2016.

Berkshire's book value per class A equivalent share was $182,816 as of June 30, up 6.2% from Dec. 31, 2016. The insurance float as of June 30 was about $107 billion, an increase of about $16 billion since Dec. 31, 2016.