Berkshire Hathaway reported a 4% decline in its second-quarter operating profit compared to the prior year. This decrease was primarily attributed to a fall in premiums from insurance underwriting.
The conglomerate also took a writedown on a portion of its investment in Kraft Heinz. This impairment reflects a reassessment of the value of this long-held stake.
During the quarter, Berkshire Hathaway continued to stockpile cash and refrained from repurchasing its own shares. The company also remained a net seller of stocks, indicating a cautious approach to market valuations.
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