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Warren Buffett's conglomerate has earned over $80bn in 2020

Warren Buffett's Berkshire Hathaway (Berkshire Hathaway Inc) conglomerate announced today that its quarterly operating profit rose 14 percent thanks to results from its insurance business, and total profit approached $36 billion amid sharp appreciation of shares in the company's portfolio (e.g. Apple/Apple Inc), Reuters reported.
Fourth-quarter operating profit came in at $5.02 billion, or about $3.252 per Class A share, versus $4.42 billion a year earlier, BTA reports.

Clean profit reflecting stock appreciation jumped 23 percent to $35.84 billion against $29.16 billion in the same period in 2019.

For the full 2020 operating profit decreased by 9 per cent to $21.92 billion, with net falling by 48 per cent to $81.42 billion.

In the quarter, Berkshire, whose shares followed the broader market over the past decade and mostly in 2019 and 2020, bought back its securities for about $9 billion. It's a sign that, according to Buffett, his conglomerate with headquarters in Omaha, Nebraska, is undervalued.

For the whole of last year, $24.7 billion shares were bought back, exceeding the previous record of $5 billion for 2019.

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