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Buffett’s Berkshire Ends Quarter With $36 Billion Profit

Warren Buffett’s Berkshire Hathaway swung to a profit in the second quarter, boosted by its insurance division and strong gains in its massive investment portfolio, while its cash pile swelled.

The Omaha, Neb., company, posted net income of $35.9 billion, or $24,775 a Class A share equivalent.

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That compared with a loss of $43.8 billion, or $29,754 a Class A share equivalent, a year earlier.

Berkshire’s operating earnings, which exclude some investment results, rose slightly to just over $10 billion from $9.3 billion a year earlier.

Earnings grew at most of the company’s major units, including its insurance-underwriting operations and insurance-investment-income unit.

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