Warren Buffett's Berkshire Hathaway Inc on Saturday said fourth-quarter profit fell, reflecting lower gains from investments and foreign currency exchange losses as the U.S. dollar lost value.
Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo/File Photoon Saturday said fourth-quarter profit fell, reflecting lower gains from investments and foreign currency exchange losses as the U.S. dollar lost value.
Berkshire also repurchased $2.6 billion of its own stock in the quarter, boosting full-year buybacks to $7.9 billion. Quarterly net income fell 54% to $18.16 billion, or $12,412 per Class A share, from $39.65 billion, or $26,690 per share, a year earlier.Reporting by Jonathan Stempel in New York Editing by Mark Potter
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