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Caterpillar profit jumps 91%, beating expectations

Caterpillar Inc. reported a stronger-than-expected quarterly profit and raised its full-year outlook, citing sales growth in emerging markets, especially from customers in mining and energy.

The world’s largest maker of construction and mining equipment said its ability to pass along price increases on its earth-moving machines, engines and turbines more than offset a dip in revenue from its financial services unit.

[Crain’s Chicago Business]