Berkshire Hathaway Inc. has reported second-quarter net earnings increased 13 percent compared to the period last year, due in part to investment gains.

Second-quarter net income rose to $1.45 billion from $1.28 billion in the second quarter of 2004. Revenues rose 1 percent to $18.13 billion.

Despite a more favorable insurance loss number, pretax underwriting gains fell 11 percent.

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