UPDATE: Caterpillar Posts Better-Than-Expected Q1 Results, Lifts FY14 Earnings Outlook

Caterpillar

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.