Berkshire Hathaway Inc.
) reported second quarter 2013 operating earnings of $1.53 per
share, surpassing the Zack Consensus estimate of $1.45 per share.
Earnings also compared favorably with $1.50 per share reported in
the year-ago quarter.
Net income (a GAAP measure), which includes investment and
derivative gains came in at $1.84 per share, up from $1.25 per
share earned in the year-ago quarter.
Berkshire reported total revenue of $44.7 billion which was up
16% year over year to $44.7 billion. The increase was led by
higher revenues across all business segments.
segment reported operating earnings of $3.92 billion up 5.3% year
over year. Revenue grew up 13% year over year to $34.8
Railroad, Utilities and Energy segment
's operating revenue increased 7.0% year over year to $8.3
billion. Of the total segment revenue, approximately 64% came
from Burlington Northern Santa Fe, the railroad company, which
was acquired by Berkshire in February 2010.
An increase in industrial and agricultural activity has
automatically revived the demand for rail services and this
translates into greater consumer demand for the segment. The
trend is likely to continue in the coming years as
Total revenue at Berkshire's
Manufacturing, Service and Retailing segment
climbed 16.0% year over year to $24.0 billion.
Finance & Financial Products segment
contributed $135 million in operating earnings up 12.5% year over
Consolidated shareholders' equity at Jun 30, 2013 was $202.0
billion, an increase of $14.4 billion since December 31,
Berkshire Hathaway retains a Zacks Rank #3 (Hold).
American Financial Group Inc.
), all reported second quarter earnings ahead of the Zacks
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