Buffett’s company says 4Q profit up 10 per cent as insurance, other subsidiaries performed well
OMAHA, Neb. – Warren Buffett’s company says its fourth-quarter profit improved 10 per cent as its insurance companies improved.
Berkshire Hathaway Inc.’s fourth-quarter results and Buffett’s annual letter to shareholders were released Saturday.
Berkshire reported fourth-quarter net income of $4.99 billion, or $3,035 per Class A share, on revenue of $47 billion. That’s up from $4.55 billion, or $2,757 per Class A share, on revenue of $44.72 billion last year.
Berkshire’s insurance companies, which include Geico and General Reinsurance, reported a $394 million operating profit in the fourth quarter, compared to last year’s $19 million loss.
Berkshire’s operating earnings, which exclude investments and derivatives, grew to $3.78 billion, or $2,297 per Class A share.
The three analysts surveyed by financial data company FactSet expected quarterly operating earnings of $2,495.42 per Class A share.
News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
