- NEW YORK: Heavy machinery maker Caterpillar reported a 44 percent earnings increase that came in below Wall Street forecasts but raised its full-year sales and profit outlook and said demand was improving around the world.
Caterpillar earned a net $1.02 billion, or $1.52 per share, in the second quarter, compared with $707 million, or $1.09 per share, a year earlier.
Excluding acquisition costs, Caterpillar earned $1.72 per share, which fell 3 cents short of average analyst forecasts, according to Thomson Reuters I/B/E/S.
Total revenue rose 37 percent to $14.23 billion.