Caterpillar posts record breaking revenue and profit

cat1.jpg

Caterpillar posted a record-breaking second quarter profit. The company’s profit per share increased 67-percent to $2.54. Sales and revenues were also up, setting an all-time record of more than 17-billion dollars. The increases are due to strong global sales of Cat’s construction and mining equipment. Cat is increasing its profit per share outlook for 2012 by ten cents, but is narrowing its sales and revenues outlook. That’s partially due to weaker economic conditions in much of the world.