Berkshire Hathaway Beats Q2 Earnings Amid Strengthening Economy

Berkshire Hathaway reported better than forecast second quarter earnings as sales growth at the Warren Buffett-run conglomerate returned, confirming a strengthening recovery in the U.S. economy. Berkshire's earnings add proof that a first quarter slowdown in economic activity in the U.S. was the result of unseasonably bad weather and not a deteriorating economy. Like the rest of the country, Berkshire rebounded strongly in the second quarter. Overall, the conglomerate reported $49.8 billion in revenue and $2,643 in earnings per Class A share, beating analyst estimates compiled by Bloomberg on both the top and bottom lines. The company saw operating earnings rise 10% in the second quarter to $2.6 billion. Analysts expected Berkshire Hathaway to earn $48.86 billion in revenue and earnings per share of $2,482. Berkshire's portfolio of investments and derivatives rose by nearly $2 billion in the second quarter versus a $622 million gain at this time a year ago.