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Berkshire Hathaway (BRK-B) is climbing 4% after Warren Buffett's holding company reported that its operating income had surged 71% last quarter versus the same period a year earlier. Additionally, the firm's Q4 revenue came in above analysts' average estimate.
The Highlights of Berkshire's Q4 Results
The conglomerate's operating income jumped 71% year-over-year in Q4 to $14.5 billion, as the underwriting income of its insurance businesses soared by $2.6 billion. or 66% after taxes.
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Berkshire's Q4 revenue rose only 2% year-over-year to $94.9 billion but was slightly above analysts' average estimate. The income of its energy businesses climbed 15% YOY.
Additional Information About Berkshire
For all of 2024, the company generated investment gains of $41.56 billion, down from $58.87 billion 2023. Berkshire finished 2024 with a record $334.2 billion of cash and short-term investments, up from $325.2 billion at the end of the previous quarter.
Also noteworthy is that the conglomerate did not buy back any of its shares in Q4 after also failing to do so in Q3.
Buffett noted in his annual letter to Berkshire's shareholders that the firm is looking to increase its ownership of Japan's top trading houses over the longer term.
The Recent Price Acton of BRK.B
In the last month, the shares are up 5% while they have risen 4.5% in the last three months.
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READ ALSO 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure: None. This article is originally published at Insider Monkey.