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© Reuters. FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc., plays bridge as part of the company's annual meeting weekend in Omaha
(Reuters) – Declining investments and deteriorating prospects resulting from an investment in Kraft Heinz (NASDAQ 🙂 Co have tarnished the profitability of Warren Buffett's Berkshire Hathaway (NYSE 🙂 Inc., which on Saturday released a significant quarterly net loss, although its operating income has increased.
The fourth quarter net loss was $ 25.39 billion, or $ 15,467 per Clbad A share, reflecting investment losses of more than $ 27.6 billion, including shares that Berkshire still holds.
The results include a $ 3.02 billion write-down of intangible badets that, according to Buffett, is "almost entirely" attributable to Kraft Heinz, which announced Thursday its own write-down of $ 15.4 billion on Kraft, Oscar Mayer and other badets.
Berkshire's operating profit rose from $ 3.34 billion to $ 5.72 billion.
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