Berkshire Hathaway's Buyback Engine Roars Back As Net Earnings More Than Double To $25.7 Billion

Berkshire Hathaway Inc. (NYSE: BRK ) (NYSE: BRK ) said Saturday that second-quarter net earnings attributable to shareholders jumped to $25.67 billion, more than double the $12.37 billion posted a year earlier, as a rebound in the conglomerate’s stock portfolio combined with a sharp step-up in share repurchases under CEO Greg Abel. On a per-share basis, net earnings worked out to $17,868 per Class A equivalent share, versus $8,601 a year ago. The headline number was driven in large part by roughly $16 billion in investment gains, reflecting unrealized appreciation across core holdings including Apple, Alphabet, American Express, Bank of America and Coca-Cola — the five positions that together make up the bulk of Berkshire’s equity book. Berkshire’s Earnings: What Lies Beneath? Strip out the investment swings and the underlying businesses still had a strong quarter. O...