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Caterpillar reports big profit and revenue beats, but stock slips as costs surge

Caterpillar reports big profit and revenue beats, but stock slips as costs surge

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Caterpillar Inc. CAT, -0.99% reported Friday big profit and revenue beats, as sales of all three of its major business segments rose above expectations, but the stock slipped 0.4% premarket as cost increases outpaced sales growth. Net income nearly tripled, to $2.12 billion, or $3.91 a share, from $780 million, or $1.42 a share, in the year-ago period.

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