(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. said fourth-quarter profit rose 15 percent, fueled by a gain on an investment in Dow Chemical Co.
Net income increased to $6.29 billion, or $3,823 a share, from $5.48 billion, or $3,333, a year earlier, the Omaha, Nebraska-based company said Saturday in a statement. Operating earnings, which exclude some investment results, were $2,665 a share, missing the average $2,717 estimate of three analysts surveyed by Bloomberg.
While Buffett is widely known as a gifted stock picker, Berkshire derives most of its income from the businesses he’s bought during his five decades running the firm. Its dozens of subsidiaries include auto insurer Geico, railroad BNSF, a network of auto dealerships, retailers and electric utilities.
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