Berkshire Profit Climbs 32%, Capping Record Year for Buffett
BLOOMBERG
February 27, 2016 — 5:01 AM PST
Noah Buhayar
Katherine Chiglinsky
Berkshire Hathaway Inc., the conglomerate controlled by
billionaire Warren Buffett, said fourth-quarter profit climbed 32
percent on investments and earnings from the company’s expanding stable
of operating businesses.
Net income rose to $5.48 billion, or
$3,333 a share, from $4.16 billion, or $2,529, a year earlier, the
company said Saturday in a statement. Operating earnings, which exclude
some investment results, were $2,843 a share, beating the average $2,814
estimate of three analysts surveyed by Bloomberg.
The results cap
another record year for Buffett, Berkshire’s chairman and chief
executive officer. Over the past five decades, he has built the Omaha,
Nebraska-based company into a sprawling enterprise with a stock
portfolio valued at more than $110 billion and interests in insurance,
energy, manufacturing, media, retail and transportation.
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