Omaha, Nebraska-based Berkshire said it had net income of $14 billion, or $8,608 per Class A share, in the April to June quarter. That's up from $12 billion, or $7,301 per Class A share, in the same quarter a year ago.
Buffett has said Berkshire's operating earnings offer a better view of quarterly performance because they exclude investments and derivatives, which can vary widely. By that measure, its earnings fell 11% to $6.1 billion.
Total revenue rose 2% to $63.6 billion. Berkshire said its second-quarter results excludes earnings from its 26.7% stake in cheese and ketchup company Kraft Heinz, because the statements were not yet made available to Berkshire. It plans to record those earnings at a later time.
The company also said it was sitting on more than $122 billion in cash, up from more than $114 billion at the end of March.