Berkshire Hathaway’s operating earnings surge 71% with record cash pile
CNN
Berkshire Hathaway on Saturday reported operating earnings for the fourth quarter surged 71% after taxes to a record $14.5 billion.
Warren Buffett’s Berkshire Hathaway (BRK.A) on Saturday reported operating earnings for the fourth quarter rose 71% after taxes year-over-year to a record $14.5 billion. Operating profit in 2024 rose 27% to $47.4 billion from $37.3 billion a year earlier. Berkshire reported full-year net income of $89 billion, down 7.5% from 2023. “Berkshire did better than I expected,” Buffett said in his annual letter to investors. “We were aided by a predictable large gain in investment income as Treasury Bill yields improved and we substantially increased our holdings of these highly-liquid short-term securities,” Buffett said. Buffett said insurance businesses “delivered a major increase in earnings,” led by car insurer Geico. Berkshire earned $9 billion in 2024 from insurance underwriting, a 66% increase from $5.4 billion in 2023. “In five years, Todd Combs has reshaped GEICO in a major way, increasing efficiency and bringing underwriting practices up to date,” Buffett wrote in a letter to shareholders.
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Imagine having a language tutor who was always on, available anytime to teach you new vocabulary or check up on your progress.
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President Donald Trump’s media company is suing a Brazilian Supreme Court Justice in an unusual case that ties in first amendment rights, international law, and internal Brazilian politics.