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Falling stocks, Kraft Heinz trigger huge Berkshire Hathaway loss

Buffett also released his annual letter to Berkshire shareholders, which did not discuss Kraft Heinz's recent travails

Reuters 

Sinking stocks and deteriorating prospects from an investment in Kraft Heinz Co pummeled the bottom line of Warren Buffett's Berkshire Hathaway Inc, which on Saturday reported a huge quarterly net loss even as operating profit soared. The fourth-quarter net loss was $25.39 billion, or $15,467 per Class A share, reflecting more than $27.6 billion of investment losses, including from stocks Berkshire still owns. That compared with a year-earlier profit of $32.55 billion, or $19,790 per Class A share, most of which resulted from a lowering of the U.S. corporate tax ...

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First Published: Sat, February 23 2019. 20:12 IST
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