Berkshire Hathaway’s Earnings Fall, Hurt by Market Volatility

view original post

Berkshire Hathaway earnings slid in the second quarter as market turmoil weighed on the company’s massive stock portfolio.

The Omaha, Neb.-based company, which owns businesses ranging from insurer Geico and railroad BNSF Railway to sportswear maker Brooks Running, posted a loss of $43.8 billion, or $29,754 a class A share equivalent. That compared with a profit of $28.1 billion, or $18,488 a share, in the year-earlier period.