© Reuters. FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo/File Photo
(Reuters) – Warren Buffett’s Berkshire Hathaway (NYSE:) Inc on Saturday said fourth-quarter profit fell, reflecting lower gains from investments and foreign currency exchange losses as the U.S. dollar lost value.
Berkshire also repurchased $2.6 billion of its own stock in the quarter, boosting full-year buybacks to $7.9 billion.
Quarterly net income fell 54% to $18.16 billion, or $12,412 per Class A share, from $39.65 billion, or $26,690 per share, a year earlier.
Operating profit fell 8% to $6.71 billion, or $4,596 per Class A share, from $7.29 billion.