CAT Shares Soar as AI-Linked Demand Boosts Record Revenue

Caterpillar Inc (NYSE:CAT, XETRA:CAT) shares surged 11% to $923 in pre-market trading after reporting record quarterly revenue. The industrial group's sales increased 24% to $20.5 billion in the second quarter, exceeding analysts' forecast of $19.3 billion.

The boost in revenue was driven by demand for power-generation equipment linked to artificial intelligence infrastructure. This growth contributed to higher sales volumes and prices across Caterpillar's three main divisions.

Adjusted earnings per share skyrocketed 73% to $8.17, significantly exceeding the expected $6.17 from analysts. Reported earnings per share rose to $7.77 from $4.62 a year earlier.