By Anupreeta Das
Warren Buffett's Berkshire Hathaway Inc. posted lower earnings
for the fourth quarter amid investment derivative gains of $192
million.
Berkshire is an Omaha, Neb.-based holding company with dozens of
businesses ranging from specialty chemicals maker Lubrizol to
manufactured housing provider Clayton Homes, and a massive
portfolio of securities. At its core is its insurance operation,
which includes Geico Corp. and reinsurer General Re.
Berkshire reported a net profit of $4.16 billion, or $2,529 a
Class A share, compared with $4.99 billion, or $2,297 a share, a
year earlier. Operating earnings, which exclude some investment
results, were $2,412 a Class A share, versus $2,297 a share.
Book value per Class A share increased by 8.3% to $146,186 at
Dec. 31.
Analysts polled by Thomson Reuters were expecting per-share
operating earnings of $2,701.
The results were released in conjunction with Mr. Buffett's 50th
annual letter to shareholders, considered a must-read on Wall
Street for his investing wisdom.
Write to Anupreeta Das at anupreeta.das@wsj.com
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