Berkshire Hathaway Q4 Profit Drops 30%

Berkshire Hathaway Inc

reported a 30% decline in its fourth-quarter profit. Berkshire Hathaway's quarterly profit fell to $3.05 billion, or $1,847 per share, from $4.38 billion, or $2,663 per share, in the year-ago period. Berkshire's insurance operations posted a $107 million underwriting loss, versus a profit of $414 million, in the year-ago period. Profit at Berkshire Hathaway's railroad operation, Burlington Northern Santa Fe, surged 41% to $909 million. Profit at Berkshire's utility and energy operation dropped 8.1% to $316 million. Earnings at the Berkshire Hathaway's manufacturing, service and retailing operations surged 28% to $856 million. BRK-B shares gained 0.84% to close at $80.04 on Friday.