Daily Management Review

Berkshire's operating profit hits an all-time record in 2022


02/27/2023


Warren Buffett’s Berkshire Hathaway Inc. announced its highest annual operating profit in the company history, despite a decline in the fourth-quarter profit due to foreign exchange losses and rising interest rates.



Berkshire's operating profit hits an all-time record in 2022
Buffett referred to 2022 as a "good year" for Berkshire in his yearly letter to shareholders. Despite rising inflation and supply chain problems, the conglomerate's companies generated $30.8 billion in profits.

Berkshire increased its cash on hand as well; at the close of the year, it had $128.6 billion after selling about $16.3 billion worth of shares in the fourth quarter.

The business in Omaha, Nebraska, decided it was profitable to buy back its own shares. It purchased back its own shares for a total of $2.6 billion in 2022 and an additional $700 million in the first half of 2023.

source: bloomberg.com