Berkshire Hathaway fourth-quarter operating earnings fall 8%, cash hoard swells to nearly $130 billion
Publishing timestamp: 2023-02-25 09:54:55
Summary
Berkshire Hathaway's operating profits fell during fourth quarter of 2022, with earnings from railroad, utilities and energy businesses slightly down from year-ago period and insurance-underwriting business falling to $244 million. For the year, operating earnings totaled $30.793 billion, up 12.2% from 2021. Berkshire used $2.855 billion to buy back shares in fourth quarter and cash hoard grew to $128.651 billion. Overall earnings dropped to $18.164 billion in fourth quarter of 2022, a 54% decline from same quarter in year prior. Berkshire shares are down nearly 1.6% in 2023.
Sentiment: NEUTRAL
Keywords: market insider, stock markets, markets, business, breaking news: earnings, earnings, breaking news: markets, berkshire hathaway inc, economy, business news,
Source: https://www.cnbc.com/2023/02/25/berkshire-hathaway-brk-earnings-q4-2022.html