Caterpillar CAT reported better-than-expected first-quarter results and lifted its full-year earnings guidance.
Caterpillar's quarterly profit surged to $922 million, or $1.44 per share, versus a year-ago profit of $880 million, or $1.34 per share. Its adjusted earnings came in at $1.61 per share.
Its revenue climbed to $13.24 billion versus $13.21 billion. However, analysts were expecting earnings of $1.21 per share on revenue of $13.17 billion.
Caterpillar raised its full-year profit forecast by $0.25 per share to $6.10 per share.
Caterpillar shares gained 3.99% to $107.51 in pre-market trading.
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