Berkshire Hathaway Reports 59% Plunge in Net Profit, Cites Investment Write-downs
Berkshire Hathaway, the multinational conglomerate led by legendary investor Warren Buffett, has reported a sharp 59% drop in its second-quarter net profit, largely attributed to a significant write-down on its long-held investment in Kraft Heinz. The company’s net income for the quarter was $12.37 billion, a…