REUTERS: Warren Buffett's Berkshire Hathaway Inc on Saturday posted a 23per cent decrease in quarterly operating profit, while soaring prices in stock holdings such as Apple Inc enabled the conglomerate to smash its old record for full-year earnings.
Nonetheless, while the BNSF railroad and Berkshire Hathaway Energy units showed improvement, reinsurance operations weighed on operating results, and the Geico car insurer posted"subpar performance" as loss claims eclipsed premium growth, according to Cathy Seifert, an analyst at CFRA Research. Net income, reflecting stock gains, totaled US$29.16 billion, compared with a net loss of US$25.39 billion a year earlier.
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