Berkshire Hathaway Q4 operating earnings fall 8%, cash hoard swells to nearly $130 billion
That's down 7.9% from the year-earlier period when profits totaled $7.285 billion. Operating earnings refers to the total profits made from the businesses owned by the conglomerate.
Meanwhile, Berkshire used $2.855 billion to buy back shares in the fourth quarter. That's lower than the year-earlier period when share repurchases totaled approximately $6.9 billion. Buffett said in his annual shareholder letter that Berkshire will continue to hold a "boatload" of cash and U.S. Treasury bills along with its myriad of businesses. He specified that future CEOs in the company will have a "significant part" of their net worth in Berkshire shares.
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