Berkshire Hathaway's (BRK.A.US) cash reserves slightly decreased, Q2 net profit slashed in half, Kraft Heinz becomes a "minefield"

According to the financial news app Sina Finance, Berkshire Hathaway (BRK.A.US, BRK.B.US) released its second quarter results, with revenue of $92.515 billion, slightly higher than market expectations of $91.963 billion, but down 1.2% compared to the same period last year when revenue was $93.65 billion. Net profit attributable to shareholders was $12.37 billion, a 59% decrease from last year, reflecting a decline in overall investment income from common stock holdings and write-downs on Kraft Heinz (KHC.US); net profit was $30.35 billion in the same period last year and $4.6 billion in the first quarter. Earnings per share for Class A shares were $8,601, down from $21,122 in the same period last year; for Class B shares, earnings per share were $5.73, down from $14.08 in the same period last year. Operating profit was $11.16 billion, down 3.8% from the same period last year when it was $11.6 billion; in the first quarter, operating profit was $9.64 billion, a 14.1% decrease. This marks the largest decline in operating profit since a 32.1% decrease in the third quarter of 2020.