Berkshire Hathaway Posts $35.5 Billion Profit, Cash Rises to $130 Billion
The company's cash pile also increased to an impressive $130 billion, up from $124 billion in 2021.
Despite the ongoing challenges posed by the COVID-19 pandemic, the company has continued to perform strongly and generate significant returns for its shareholders.
In particular, the company's insurance businesses, which include Geico and General Re, reported a combined underwriting profit of $2.8 billion in 2022.
The company's railroad, BNSF, also had a strong year, generating earnings of $5.8 billion.
Meanwhile, the energy and utilities division, which includes Berkshire Hathaway Energy, posted earnings of $4.7 billion, up from $4.4 billion in 2021.
Berkshire Hathaway's investment portfolio, which includes major stakes in companies such as Apple, Bank of America, and Coca-Cola, also performed well in 2022.
The value of the company's investment holdings increased by $92 billion, with Apple alone accounting for $35 billion of that increase.
While the company's success in 2022 is undoubtedly impressive, there are some concerns about the sustainability of its growth trajectory.
Despite these concerns, however, Berkshire Hathaway remains a dominant force in the business world, with a market capitalization of over $620 billion.
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