A boost in equipment sales propelled Caterpillar's first-quarter profit, as a strong global economy helped support construction and energy industry projects.
Construction equipment sales rose 38 percent during the quarter, while energy and transportation equipment sales rose 26 percent. North America remained the company's biggest market, with its Asia/Pacific region coming in as its next biggest. CAT boosted its full-year outlook by $2 per share.
Profit rose eightfold to $1.67 billion, or $2.74 per share, while revenue surged 31 percent to $12.86 billion. The results topped Wall Street expectations.