Berkshire Hathaway reports operating earnings surge, but posts big investment loss amid market rout
- The conglomerate's operating earnings totaled $9.283 billion in the second quarter of 2022, marking a 38.8% increase from a year ago.
- However, the company posted a $53 billion loss on its investments during the quarter.
- Warren Buffett again asked investors to not focus on the quarterly fluctuations in its equity investments.
Berkshire Hathaway's operating profits jumped in the second quarter despite fears of slowing growth, but Warren Buffett's conglomerate was not immune to the overall market turmoil.
The conglomerate's operating earnings — which encompass profits made from the myriad of businesses owned by the conglomerate like insurance, railroads and utilities — totaled $9.283 billion in the second quarter of 2022, Berkshire reported Saturday morning. It marked a 38.8% increase from the same quarter a year ago.
More on: www.cnbc.com