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Berkshire Hathaway Inc. (BRK.A - Snapshot Report) (BRK.B - Analyst Report) reported second quarter 2013 operating earnings of $1.53 per share, surpassing the Zack Consensus estimate of $1.45 per share. Earnings also compared favorably with $1.50 per share reported in the year-ago quarter.
Net income (a GAAP measure), which includes investment and derivative gains came in at $1.84 per share, up from $1.25 per share earned in the year-ago quarter. 
Berkshire reported total revenue of $44.7 billion which was up 16% year over year to $44.7 billion. The increase was led by higher revenues across all business segments.
Segment Results
Berkshire's Insurance Group segment reported operating earnings of $3.92 billion up 5.3% year over year. Revenue grew up 13% year over year to $34.8 billion. 
The Railroad, Utilities and Energy segment’s operating revenue increased 7.0% year over year to $8.3 billion. Of the total segment revenue, approximately 64% came from Burlington Northern Santa Fe, the railroad company, which was acquired by Berkshire in February 2010.
An increase in industrial and agricultural activity has automatically revived the demand for rail services and this translates into greater consumer demand for the segment. The trend is likely to continue in the coming years as well. 
Total revenue at Berkshire's Manufacturing, Service and Retailing segment climbed 16.0% year over year to $24.0 billion.
The Finance & Financial Products segment contributed $135 million in operating earnings up 12.5% year over year.
Consolidated shareholders’ equity at Jun 30, 2013 was $202.0 billion, an increase of $14.4 billion since December 31, 2012.
Berkshire Hathaway retains a Zacks Rank #3 (Hold). 
Other players ACE Limited (ACE - Analyst Report), Chubb Corp. (CB - Analyst Report), American Financial Group Inc. (AFG - Analyst Report), all reported second quarter earnings ahead of the Zacks Consensus Estimate.

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