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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