Caterpillar Inc., one of the world's largest construction equipment makers, said Friday its third-quarter earnings rose 21 percent as strength in its integrated service business offset weakness in North America.
The company, which also cut its full-year outlook, earned $927 million, or $1.40 per share, compared with $769 million, or $1.14 per share in the year-ago quarter.
Revenue increased 9 percent to $11.44 billion, from $10.52 billion in the prior-year period. The company cited strength in integrated services, which is its business that combines financial services, parts, logistics and other operations.
Analysts were expecting a profit of $1.43 per share on revenue of $11.19 billion, according to a Thomson Financial poll.
For the full-year, the company expects to earn $5.20 to $5.60 per share, compared with previous guidance of $5.30 to $5.80 per share.
The company still anticipates revenue of about $44 billion.
Analysts polled by Thomson Financial expect a profit of $5.44 per share on revenue of $44.41 billion.