Warren Buffett's Berkshire Hathaway grew profits by 86% last quarter as its stock portfolio soared in value

Mario Anzuoni/Reuters Warren Buffett's Berkshire Hathaway suffered an 11% drop in revenue in the second quarter, but almost $30 billion in year-on-year investment gains meant its net income surged 86% to $26.3 billion. The famed investor's conglomerate reported about $13 billion in net stock sales last quarter, including its disposal of the "big four" airline stocks in April. Berkshire also repurchased more than $5 billion of its stock as expected. However, its cash pile still ballooned by about...