Berkshire Hathaway reports record annual operating profit of $96.2bn, driven by insurance business performance and rising stock market value.

Warren Buffett's Berkshire Hathaway reports a second consecutive year of record annual operating profit, with insurance businesses performing exceptionally well, contributing to a record $96.2 billion net income. This was due to improved underwriting and higher income from investments as interest rates rose. The rising stock market increased the value of Berkshire's $354 billion equity portfolio, half of which is in Apple. Berkshire Hathaway's cash pile reached a record $167.6 billion.

February 23, 2024
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