Berkshire Hathaway Q2 earnings: Profit rises 16% to $12.98 billion as buybacks accelerate
American multinational conglomerate Berkshire Hathaway reported stronger-than-expected second-quarter results, with operating profit, revenue and net income rising, while its massive cash pile fell as the company stepped up stock purchases and buybacks.Operating profit rose 16 per cent year-on-year to $12.98 billion, beating analyst expectations, reported Reuters. Revenue increased 10 per cent to $101.81 billion, while…