Caterpillar Shares Soar as Earnings Exceed Expectations

Caterpillar's second-quarter earnings have exceeded Wall Street expectations, sending its shares soaring over 11% in pre-market trading on Tuesday.

The company reported sales of $20.5 billion for the quarter, significantly surpassing the $19 billion average analyst estimate compiled by Bloomberg.

This performance alleviates investor concerns about growth in power-generation equipment sales to data centers, a business that has drawn close attention as demand for electricity infrastructure expands alongside data center development.