Xinhua News Agency, New York, February 22 (Reporter Liu Yanan) The financial report released by Berkshire Hathaway, an investment institution under the famous American investor Warren Buffett, on the 22nd, showed that the company achieved a net profit attributable to the company's shareholders of US$88.995 billion in 2024, a decrease of 7.51% from the previous year.
Among them, Berkshire Hathaway's operating profit increased by 27% last year to US$47.437 billion, while investment income fell by 29.41% to US$41.558 billion.
The company's operating income in insurance, railways, utilities and energy businesses in 2024 was US$371.433 billion, a year-on-year increase of 1.91%, significantly lower than the 20.68% increase of the previous year.
Berkshire Hathaway's share price rose 25.5% in 2024, slightly higher than the S&P 500's 25% increase that year.
Buffett said in a letter to shareholders that although 53% of the 189 companies operated by Berkshire Hathaway saw a decline in profits, the company performed better than it expected in 2024. The rise in U.S. short-term Treasury yields significantly increase investment in these high-liquid short-term bonds, and the resulting predictable large amount of investment returns will help the company's performance.
In addition, it is initially estimated that multiple wildfires in Southern California in January this year may cause approximately $1.3 billion in pre-tax losses to Berkshire Hathaway's insurance business.
