“Berkshire Hathaway, led by Warren Buffett, reported a 14% increase in operating income and a 23% jump in net income last quarter, mainly thanks to the soaring shareholdings of Apple and others.
Berkshire Hathaway reported operating income of $5.02 billion in the fourth quarter of last year, better than the $4.42 billion reported a year ago.
Net income last quarter was $35.84 billion, up 23% from $29.16 billion a year ago, reflecting gains from stock investments.
Last year, Berkshire bought back a record $24.7 billion worth of its own stock. In the fourth quarter alone, it bought back a total of $9 billion of treasury stock, tying the record of the third quarter.
Pocahontas A shares rose about 2.4% last year, underperforming the broader market. The U.S. S&P 500 Index jumped 16% last year.
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