As the economic recovery benefited a myriad of businesses, including energy and railroads, Berkshire Hathaway saw its operating income continue to rise.According to the conglomerate's earnings report, $6.69 billion was reported in operating earnings in the second quarter. This is 21% more than the $5.51 billion it earned in the same period last year.The overall earnings, which are Berkshire's fluctuating stock investments, increased 6.8% over the previous year to $28 Billion in the second quarter.Warren Buffett, the Chairman and CEO of Berkshire, continued to buy back Berkshire shares vigorously rather than making large acquisitions. In the second quarter, the company purchased $6 billion in its own stock. This brings the total for the six months to $12.6 billion. Last year, Berkshire purchased a record $24.7 million of its own stock.Berkshire's cash balance stood at $144.1 billion at the end of June. This is a steady level from the previous quarter and still a record, despite its massive buyback program.This was achieved as the stock of the conglomerate wiped out all 2020 losses and reached a new record in the period. Berkshire's B-shares are up 2% in the third quarter. This brings their year-to date gain to more than 23%.
