Buffett Releases Annual Letter To Shareholders, Reports Profit

By: The Associated Press Email
By: The Associated Press Email
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  • Warren Buffett's company says its fourth-quarter profit improved 10 percent 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.

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