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OMAHA — Warren Buffett’s company reported a 40 percent drop in second-quarter profit because largely unrealized derivative losses of $1.4 billion outweighed improvements at Berkshire Hathaway Inc.’s operating companies.
Berkshire reported $1.97 billion net income Friday, or $1,195 per Class A share. That’s down from $3.3 billion, or $2,123 per share, a year ago. Its revenue grew 7 percent to $31.7 billion. Those results fell short of the $1,360 profit per share expected by analysts.
