Caterpiller (NYSE:CAT) announced that it earned $1.6 billion, or $2.37 per share, versus $1.2 billion, or $1.84 per share, in the same period last year. Revenue increased by 23 percent to $16 billion during the first quarter. Analysts expected the company to earn $2.13 per share on revenue of $16.2 billion. Caterpiller projected that it would earn $9.50 per share for the year on revenue of $68 billion to $70 billion.
Shares are lower by about 2.4 percent.
Boeing (NYSE:BA) announced that it earned $923 million, or $1.22 per share, up from $586 million, or 78 cents per share in the same period last year. Revenue increased by 30 percent to $19.4 billion, beating expectations of $18.4 billion. The company expects to make $4.35 a share for the year on revenue of $78 billion to $80 billion.
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