Decrease in net income of Berkshire after losses on derivatives
August 7, 2010
Berkshire Hathaway reported Friday a 40% drop in net profit in the second quarter, falling equity markets have depreciated the value of certain derivatives contracts it holds.
The fund headed by Warren Buffett, however, reported an operating profit up 73% driven by the acquisition of the rail operator Burlington Northern Santa Fe
Net income fell to $ 1.97 billion, or $ 1195 dollars per A share, against 3.3 billion dollars by 2123, a year earlier.
Operating profit excluding investments is meanwhile stood at 3.07 billion dollars, 1866 dollars per share, against $ 1.78 billion, 1147 dollars per title.
Analysts had expected EPS of U.S. $ 1,360 according to Thomson Reuters I / B / E / S.
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