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Berkshire Hathaway: Improved Earnings Expected

Associated Press

Posted on 07 Aug 2009

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Berkshire Hathaway, led by CEO Warren Buffet, is set to report second-quarter earnings this afternoon amid increased optimism for the company.

The Omaha-based company’s expected improved results are likely due to the increased value of many of its stocks in the past quarter. The higher market prices will boost the value of Berkshire's own stock portfolio, which in turn should increase the value of Berkshire Hathaway’s derivative contracts tied to equity indexes. Operating earnings could be flat as Buffett has said he's seen few signs of "green shoots" in the economy of yet.

Berkshire Hathaway owns more than 60 subsidiaries and it has major investments in such companies as Coca-Cola Co. and Wells Fargo & Co.

Following a strong rally last week, the company’s "A" shares have rallied nearly 10 percent this week to close yesterday at $106,950.