Berkshire Hathaway Beats Earnings Estimates By $476 A Share

Warren Buffett's Berkshire Hathaway handily beat second quarter earnings estimates, even as net income fell 9 percent to $3.11 billion.

The conglomerate recorded operating earnings of $2,252 per share, ahead of estimates from a Bloomberg survey of $1,776.

Derivatives weighed on the company's results, with Berkshire recording a loss of $693 million on movements in contracts tied to equity indices.

Revenues advanced less than one percent during the second quarter, to $38.5 billion.

Shares are up nearly two percent in after-hours trade.

• Here Are The Big Market Moving Events For Monday, July 30
  
• 11 Straight Quarters Of Corporate Profit Growth May Be Coming To An End
  
• CFOs Identify 11 Red Flags In An Earnings Announcement