Warren Buffett-run Conglomerate Posts Record Profits

Warren Buffett’s Berkshire Hathaway (BRK.A) posted a record profit last year, the company said in its annual report, released on Saturday.

Profit for the full year rose 31 percent to $19.5 billion, or $11,850 per Class A share, from $14.8 billion in 2012, compared to the consensus estimate of $18 billion. Operating profit rose 20 percent to $15.14 billion, or $9,211 per share.

Net income¬†for the Omaha, Neb.-based company rose to $4.99 billion in Q4’13, or $3,035 per Class A share, on revenue of $47 billion. That’s up 10% from $4.55 billion, or $2,757 per Class A share, on revenue of $44.72 billion, a year earlier.

Analysts forecast that Berkshire would earn $46.3 billion in revenue and report operating EPS of $2,203.91.

Quarterly operating earnings, excluding investments and derivatives, came in at $3.78 billion, a 34% increase from year-ago levels.

Carrying value¬†per Class A share rose to $134,973 at the end of 2013, a 18.2% increase from the company’s book value per share of $114,214 at the end of 2012. Berkshire’s gain in net worth during fiscal 2013 was $34.2 billion, according to the company.

In 2013, the conglomerate’s total assets rose to $484.931 billion, up 13.4% from $427.452 billion a year earlier.

Berkshire’s chairman and chief executive Buffett, who has been at the helm of the investing conglomerate for more than 5 decades, released his annual letter to shareholders on Saturday, as well.

BRK.A shares rose $1,978.00, or 1.15%, Friday to close at $173,708.

Berkshire’s market cap has swelled to $286.23 billion.

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