Berkshire Hathaway Posts Profit of $29.2B With Near-Record Cash

Warren Buffett’s Berkshire Hathaway (BRK.A) – Get Report (BRK.B) – Get Report on Saturday swung to a profit in the fourth quarter vs. a year-earlier Kraft Heinz (KHC) – Get Report-induced loss as well as cash on hand that remains at near-record levels as the conglomerate’s collective investments continued to churn out positive returns.

The Omaha, Nebraska-based company on Saturday said it earned net income in the quarter of $29.2 billion, or $17,909 per Class A share equivalent, up from a loss of $25.4 billion, or $15,467 a share, the year before. The year-ago results were dragged down largely by an unexpected write-down at Kraft Heinz, of which Berkshire is a significant shareholder.

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