Warren Buffett’s Berkshire posts record $30.8 billion annual operating profit

The conglomerate’s dozens of businesses generated billions in profit despite rising inflation and supply chain disruptions

Warren Buffett’s Berkshire Hathaway Inc on Saturday reported its highest-ever annual operating profit, even as foreign currency losses and lower gains from investments caused fourth-quarter profit to fall.

Quarterly operating profit fell 8% to $6.71 billion, or $4,596 per Class A share, from $7.29 billion. Quarterly net income fell 54% to $18.16 billion, or $12,412 per Class A share, from $39.65 billion, or $26,690 per share, a year earlier. A dearth of new investments helps explain how Berkshire boosted its cash stake despite having spent $11.5 billion in the fourth quarter to buy the insurance company Alleghany Corp.

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