Berkshire Hathaway Faces Significant Earnings Drop

In a startling financial update, Berkshire Hathaway Inc. reported a sharp 59.2% year-on-year decline in net earnings for the second quarter, leading to a 3% drop in its shares on Monday. The company's revenue also saw a decrease, falling to $92.5 billion, with operating earnings down by nearly 4%.

Economic uncertainty and global trade tensions were highlighted as major factors affecting the company's performance during this period.

Stock Performance Hits Lowest Since January

The impact was evident in the stock market, with Berkshire Hathaway's Class B shares falling 3.27% to $457.4005 per share, and Class A shares declining 3.16% to $688,976.23 by early afternoon ET. This marked the lowest point for both share classes since January, signaling a challenging quarter for the conglomerate.