Caterpillar Revenue Misses Estimates as China Sales Slow

Cat said its first-quarter revenue climbed 23% to $16 billion, while the average of 13 estimates compiled by Bloomberg expected $16.1 billion

Caterpillar Inc. reported a gain in first-quarter revenue that missed analysts’ estimates as sales of construction equipment fell in China and Brazil.

Revenue climbed 23 percent to $16 billion, the Peoria, Illinois-based company said in a statement today. The average of 13 estimates compiled by Bloomberg was for $16.1 billion. Net income rose to $2.37 a share, beating the $2.13 average of 21 estimates. Caterpillar raised its full-year profit forecast while maintaining its projected 2012 revenue. The shares fell in pre-market trading in New York.

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