(Bloomberg) Billionaire investor Warren Buffett's Berkshire Hathaway Inc. posted its third straight profit decline as lower rates pressured results in insurance operations.
Second-quarter net income fell 7.6 percent to $2.88 billion, or $1,859 a share, from $3.12 billion, or $2,018, a year earlier, the Omaha, Nebraska-based company said yesterday. Excluding investment gains, profit was $1,465 a share, beating the $1,352 average estimate of two analysts compiled by Bloomberg.
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