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Berkshire Profit Rises 49% on Insurance, Derivatives

Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) said fourth-quarter profit rose 49% as the conglomerate's insurance units shrugged off superstorm Sandy and its massive derivative bets benefited from rising markets.The fourth-quarter profit of $4.55 billion, or $2,757 a share, compares to a profit of $3.05 billion, or $1,846 a share, in the same period a year earlier. For the full year, profit rose 45% to $14.8 billion, according to the Berkshire annual report posted on the company's website late Friday.Fourth-quarter operating profit of $1,704 per Class A share missed Wall Street's expectation of $1,755 a share. Operating profit excludes some investment results.Mr. Buffett, who serves as the Omaha, Neb., firm's chairman and chief executive, has urged investors to evaluate Berkshire by how it is growing in relation to the broader market. He often draws attention to Berkshire's book value, a measure of assets and liabilities that he says understates the company's actual value but c...

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  1. Berkshire Hathaway Profit Rises 49% on Insurance, Derivatives

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