Warren Buffett's Berkshire Hathaway posted a record annual operating profit for the third consecutive year.
Reuters reported.
Operating profit rose 27% to $47.44 billion in 2024 from $37.35 billion in 2023.
This was helped by a significant increase in income from underwriting and investments in the insurance business.
Operating profit in the fourth quarter also set a record, increasing by 71% to $14.53 billion, or about $1.010 per Class A share, from $8.48 billion a year earlier, reflecting gains from insurance operations and foreign exchange.
Quarterly net income was $19.69 billion, or $13.695 per average equivalent share, as the value of Berkshire's assets in Apple, American Express and other stocks rose. Net profit for the year amounted to 89 billion