OMAHA, Neb. (March 1, 2013)--Warren Buffett's company Berkshire Hathaway, which owns the Waco Tribune-Herald, reported a 49 percent surge in fourth-quarter profit Friday because of a big paper gain on its investments and derivative contracts, but the investor called the year subpar as Berkshire's results lagged the S&P 500.
Buffett recounted Berkshire Hathaway's 2012 performance Friday in his annual letter to shareholders.
The Omaha-based company reported $4.55 billion net income, or $2,757 per Class A share, in the fourth quarter, up from $3.05 billion net income, or $1,846 per share, the year before.
Buffett said Berkshire's operating earnings, which exclude the value of derivatives and investments, are a better measure of performance and they improved 5.5 percent to $2.8 billion in the quarter.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.