Berkshire Hathaway fourth-quarter profit up on derivatives
REUTERS - Warren Buffett's conglomerate Berkshire Hathaway (BRKa.N) reported a larger fourth-quarter profit on Friday, boosted by derivative gains.
The company posted a profit of $4.56 billion, or $2,757 per Class A share, compared with a profit of $3.05 billion or $1,846 per Class A share a year earlier.
Year-end book value, Buffett's preferred measure of the stock's worth, rose 14 percent to $114,214 per share.
Earnings were boosted by $1.4 billion in derivative gains during the quarter. Otherwise, operating earnings rose only slightly in the period.
Berkshire shares have been on a tear of late, gaining more than 13 percent this year. Both the Class A and Class B stock touched all-time highs Thursday.
(Reporting by Ben Berkowitz; Editing by Bernard Orr)
- Tweet this
- Share this
- Digg this
- Iran hangs woman convicted of killing alleged rapist
- Google's Pichai to oversee major products and services
- Modi takes tea, but no questions, in first press event as PM
- UPDATE 2-Motor racing-Caterham and Marussia to miss next races - Ecclestone
- UPDATE 1-UK's Labour suffers setback as leader in Scotland quits