Operating earnings are the best way to assess profitability, Warren Buffett says. On Saturday, Berkshire Hathaway released results showing operating profit for the fourth quarter of 2022 was $6.7 billion, almost 8% off third-quarter earnings of $7.8 billion, CNN reports. All told, earnings fell 125% for a loss of $22.81 billion last year. "Some of it had to do with currency fluctuations and things like that," said Steven Check of Check Capital Management. "So this is a short term noise. I would not be concerned at all." Buffett made clear in his annual letter to shareholders Saturday that he's not worried. In fact, for the year, per CNBC, Berkshire's operating earnings were $30.79 billion, a 12.2% increase from 2021. Buffett addressed these topics in his letter: