Buffet's Berkshire Hathaway Q2 profit up 87% despite near-$10 bn writedown

Warren Buffett's company reported an 87% jump in its second-quarter profit as the value of its investment portfolio increased with the stock market, but it took a roughly $10 billion write down on the value of its aircraft parts manufacturing business because of the economic impact of the coronavirus pandemic.

Berkshire Hathaway Inc. said Saturday that it earned $26.3 billion, or $16,314 per Class A share, during the second quarter. That's up from $14.1 billion, or $8,608 per share, a year ago.

Berkshire said it cut the value of its Precision Castparts unit because of how much the pandemic has hurt air