Berkshire Hathaway profit swells to record in Q4, extends buybacks

Warren Buffett's Berkshire Hathaway Inc on Saturday said fourth-quarter profit swelled, boosted by gains in many of its businesses and common stock investments such as Apple Inc, and said annual earnings reached a record high.

Berkshire also signaled renewed confidence in its own stock, repurchasing $6.9 billion in the quarter, and boosting total buybacks in 2021 to a record $27 billion. Buffett said Berkshire has repurchased another $1.2 billion of stock in 2022.

In his annual letter to Berkshire shareholders, Buffett said buybacks make "good sense" when alternatives such as buying whole companies or more stocks appear "unattractive." He also expressed confidence