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Saved by the stock market! Warren Buffett’s Berkshire Hathaway sees earnings jump 87 percent

Berkshire Hathaway posted a second quarter earnings increase of 87 percent on Saturday after Warren Buffett’s holding company saw earnings jump based on paper gains due to investments.

With a write-down of over $10bn during the quarter and operating profits falling by 10 percent – one could reasonably presume it was a bad quarter for Buffett’s holding company that owns a diverse range of businesses including Duracell.

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However, a rebound in the value of stock market investments appear to have come to the rescue during the second quarter.

Posting $40bn in investment gains for the second quarter – earnings for Berkshire soared as the value of the likes of Apple reached new highs.

This contributed to an 87 percent increase in profit as Berkshire posted earnings of $26.3bn for the quarter compared to $14.1bn during the same quarter last year.

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