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Berkshire Hathaway Inc., the conglomerate led by billionaire Warren Buffett, said Saturday that its quarterly operating profit had almost doubled from the previous year, due to better insurance results. and a tax cut.
The Company's significant insurance activities were aided by the reduction in the estimated property and casualty insurance liabilities of previous years and the reduction of taxes.
The previous year, it included significant losses due to three US hurricanes and an earthquake in Mexico. The company added that she had made stock repurchases worth $ 928 million over the three-month period.
Operating profit in the second quarter reached $ 6.88 billion, against $ 3.44 billion a year earlier, which is higher than the $ 6.11 billion expected by Wall Street.
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