PEORIA, Ill. (AP) – Caterpillar’s second-quarter net income rose 4.1 percent even as revenue slipped.
The construction equipment company’s adjusted profit topped Wall Street’s view, but revenue fell short. It also boosted its full-year earnings forecast.
Caterpillar earned $999 million, or $1.57 per share, in the quarter. A year earlier it earned $960 million, or $1.45 per share.
Removing restructuring costs, earnings were $1.69 per share. Analysts predicted $1.51 per share.
Revenue for the Peoria, Illinois, company dropped 3.2 percent to $14.15 billion from $14.62 billion. Wall Street expected $14.45 billion.