Berkshire Hathaway Q2 earnings: Profit rises 16% to $12.98 billion as buybacks accelerate

Berkshire Hathaway showcased impressive growth in its second-quarter results, with notable increases in both operating profit and net income. While revenue surged, the company’s cash reserves took a hit from recent stock buybacks. Although Geico struggled, profits rose in BNSF Railway and other sectors. Under the leadership of Greg Abel, the company ramped up share repurchases and made significant investments in stocks during this period.