Buffett’s Berkshire posts record profit, quarterly results also rise

Warren Buffett’s Berkshire Hathaway Inc on Saturday posted its second straight report annual revenue, bolstered by positive factors from its frequent inventory investments and as rising rates of interest helped its insurance coverage companies generate extra revenue.

Fourth-quarter working revenue rose 28% to $8.48 billion, or about $5,884 per Class A share, from $6.63 billion a yr earlier.

Web revenue for the quarter greater than doubled to $37.57 billion, or $26,043 per Class A share, from $18.08 billion a yr earlier.

Buffett considers web outcomes deceptive as a result of they embody positive factors and losses on investments that Berkshire has not offered.

For all of 2023, Berkshire posted a web revenue of $96.2 billion, topping the outdated report $89.9 billion set in 2021. Berkshire misplaced $22.8 billion in 2022, when the inventory market fell.

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