Fourth-quarter working earnings rose to $5.02 billion, or roughly $3,252 per Class A share, from $4.42 billion, a 12 months earlier.
Net earnings, reflecting the inventory gains, rose 23 per cent to $35.84 billion from $29.16 billion a 12 months earlier.
For all of 2020, working earnings fell 9 per cent to $21.92 billion, whereas internet earnings fell 48 per cent to $81.42 billion.
Berkshire, whose shares trailed the broader market over the past decade and considerably in 2019 and 2020, repurchased about $9 billion of inventory within the quarter, an indication Buffett considers his Omaha, Nebraska-based conglomerate undervalued.
For all of 2020, Berkshire mentioned it purchased again $24.7 billion of its personal inventory, topping its previous document $5 billion in 2019.
“At a discount of 40 per cent to intrinsic value, the repurchases looked extraordinarily compelling,” mentioned Tom Russo, a accomplice at Gardner, Russo & Gardner in Lancaster, Pennsylvania, a longtime Berkshire shareholder. “Repurchases capture forever the benefits of Berkshire’s businesses for the remaining shareholders.”
Berkshire inventory has risen 4.8 per cent this 12 months, beating the Standard & Poor’s 500’s 1.5 per cent achieve.