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flag Berkshire Hathaway saw a significant jump in quarterly earnings, though annual net income fell slightly.

flag Berkshire Hathaway reported a 71% jump in fourth-quarter operating earnings to $14.5 billion, largely due to a 302% rise in insurance underwriting earnings. flag The company's cash reserves hit a record $334.2 billion. flag Despite the strong performance, annual net income dropped 7.5% to $89 billion. flag CEO Warren Buffett emphasized substantial growth in investment income and insurance earnings, defending the high cash position.

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