Caterpillar Reports 45 Percent Rise In Profit
Shaveta Bansal - All Headline News Contributor
Chicago, IL (AHN) - Caterpillar, the maker of earth-moving equipment, diesel engines and gas turbines reported 45 percent rise in first quarter profit as compared to the corresponding period last year. Sales were at $9.39 billion up 13 percent.
Profits beat the estimates by analysts. According to Reuters Estimates, analyst had expected earnings per share of $1.06 against the actual earnings of $1.2 per share.
The company is benefiting from strong demand for commodities which is getting converted into sales of its mining and energy equipment.
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