Aug 4 (Reuters) - Warren Buffett’s Berkshire Hathaway Inc on Friday said second-quarter profit fell 15 percent, reflecting lower investment gains and a loss from insurance underwriting.
Net income for the Omaha, Nebraska-based conglomerate fell to $4.26 billion, or $2,592 per Class A share, from $5 billion, or $3,042 per share.
Operating profit declined 11 percent to $4.12 billion, or $2,505 per Class A share, from $4.61 billion, or $2,803 per share.
Analysts on average expected operating profit of about $2,791 per share, according to Thomson Reuters I/B/E/S.
Buffett believes operating income is a better gauge of how Berkshire and its more than 90 businesses are doing than net income, which fluctuates more because it incorporates investment gains and losses.
Reporting by Jonathan Stempel in New York; Editing by Lisa Shumaker