Berkshire's Q2 2026 Net Earnings Hit $25.7 Billion, Up 119% — But Investment Gains Drove Most of the Jump

Berkshire Hathaway's Q2 2026 net earnings reached $25.7 billion, up 119% year-over-year, per its August 8 release. Operating earnings grew 18%, Forbes reported. Investment gains of $12.7 billion — unrealized marks on equity holdings that flow through earnings under current accounting — nearly matched 2025's full-year total of $12.9 billion. The 18% operating figure is the cleaner gauge of business performance.