Berkshire profit surges as insurance, other businesses gain

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Charles Munger, vice chairman of Berkshire Hathaway Inc., left, and Warren Buffett, chairman of Berkshire Hathaway Inc., attend a BYD Co. press event in China, on Monday, Sept. 27, 2010.

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Charles Munger, vice chairman of Berkshire Hathaway Inc., left, and Warren Buffett, chairman of Berkshire Hathaway Inc., attend a BYD Co. press event in China, on Monday, Sept. 27, 2010.

Berkshire Hathaway on Saturday reported a 67 percent increase in quarterly operating profit, as its insurance underwriting operations rebounded from a poor quarter and several business units benefited from economic growth and improving demand.

Operating profit in the second quarter rose to $6.89 billion from $4.12 billion a year earlier.

Net income for Omaha, Nebraska-based Berkshire, including realized and unrealized gains and losses from investments, nearly tripled to $12.01 billion, or $7,301 per Class A share, from $4.26 billion, or $2,592 per Class A share, a year earlier.

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