Berkshire Hathaway finished the year with a record profit of $97 billion – Kommersant

Yesterday, February 24, the Berkshire Hathaway investment fund of billionaire Warren Buffett presented reporting for the fourth quarter and 2023 as a whole. The company ended last year with a record net profit of $97.1 billion, compared to a loss of $22 billion a year earlier. Annual revenue increased 21% to $364.5 billion. In the fourth quarter, Berkshire’s profit more than doubled to $37.6 billion. Quarterly revenue increased 70.3% to $133.1 billion.

Berkshire also reported that its earnings from equity investments rose 48% in 2023, as many company stocks resumed some gains after falling sharply in 2022. A significant portion of the fund’s income comes from five companies – Apple, Bank of America, American Express, Coca-Cola and Chevron. Earlier in February Berkshire reported about reducing its stake in Apple. Some investors expect the fund to continue selling Apple shares, whose growth has slowed recently.

In a letter to investors that traditionally accompanies annual reports, Mr. Buffett said that the investment fund is so resilient that it can withstand even serious financial crises, but in the current environment and given the huge size of the fund, one should not expect “mind-blowing results” from it. Berkshire’s capitalization exceeds $900 billion.

Yana Rozhdestvenskaya