warren buffett’s berkshire hathaway inc posted 1004 billion in secondquarter operating profit as strength in its insurance businesses helped counter inflationary pressures that have weighed on the sprawling conglomerate in the last year profit from insurance underwriting increased by 74 helping berkshire post operating profit that surpassed its 928 billion haul from the same period last year berkshire posted stronger results despite buffett cautioning at its annual meeting in omaha in may that earnings at the majority of its operating units could fall this year amid higher prices as an “incredible period” for the us economy draws to the end still the federal reserve’s aggressive pace of rate hikes has helped the firm reap greater yield on the cash it stockpiles primarily in shortdated us treasuries buffett said on thursday that fitch ratings’ downgrade of us government debt wouldn’t diminish his appetite for it read more berkshire poised for gains on rate hikes countering slumps