How has BRK.B's earnings growth trended over the past year?

Berkshire Hathaway's earnings growth has shown a mixed trend over the past year. Here's a detailed analysis:

1. **Net Income Trend**:
- In the fourth quarter of 2024, Berkshire Hathaway reported a net income of $19.694 billion, which is a decline from the $37.574 billion reported in the same quarter the previous year.
- For the fiscal year ending December 31, 2024, the company's net earnings attributable to shareholders were $88.995 billion, down from $96.223 billion in the previous year.
2. **Operating Earnings Performance**:
- Despite the decline in net income, operating earnings for the latest quarter were $14.527 billion, which is higher than the $8.481 billion reported in the prior year.
- For the fiscal year 2024, operating earnings rose to $47.437 billion, up from $37.350 billion in 2023.
3. **Investment Gains and Income**:
- Investment gains for the quarter fell to $5.167 billion from last year's $29.093 billion.
- Insurance investment income jumped to $4.088 billion from $2.759 billion in the last year.
4. **Comparing with Analyst Expectations**:
- Analysts expected a profit of $4.57 per share for the third quarter, which was slightly lower than the reported figure.
- Adjusted EPS for the fiscal year 2024 was expected to be $19.72, representing a 14.8% increase from the previous year.
- For the fiscal year 2025, the adjusted EPS is expected to grow by 1.4% to $19.99.

In conclusion, while Berkshire Hathaway has experienced a decline in net income and investment gains, the operating earnings have shown a positive trend. The company's financial performance continues to be influenced by its insurance operations and investment income.