Nothing shines a spotlight on a stock more than when billionaire Warren Buffett buys a lot of it.
Jeff Zegas, USA TODAY
Conglomerate Berkshire Hathaway reported a $25.4 billion loss in the fourth quarter as the paper value of its stock holdings plunged amid the market’s turbulence but operating earnings rose sharply.
The loss was down from a profit of $44.9 billion in 2017.
Revenue grew 3.3 percent to $247.8 billion.
Operating earnings, however, increased 71 percent, from $14.5 billion to $24.8 billion. In his annual letter to shareholders, Berkshire CEO Warren Buffett said operating profits better reflect the company’s performance.
Berkshire Hathaway’s vast holdings include companies such as auto insurer Geico, Dairy Queen and BNSF Railway Company.
Buffett’s Berkshire Hathaway just bought 75 million more shares of the iPhone maker.
Read or Share this story: https://www.usatoday.com/story/money/2019/02/23/berkshire-hathaway-posts-25-b-q-4-loss-but-operating-earnings-soar/2956610002/