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Caterpillar third-quarter profit rises on power equipment demand

Reuters
Caterpillar third-quarter profit rises on power equipment demand

Oct 29 (Reuters) - ‌Caterpillar reported a ​higher ‌third-quarter profit on ‌Thursday, led by continued strength ‌in demand for its backup power equipment, ⁠turbines and ‌construction equipment.

The ⁠company, seen as ​a bellwether for the ​global industrial ​economy, ‌reported an adjusted ​profit ⁠of $7.20 per ‌share for the ​quarter ​through September, compared with $4.95 per share a ‌year earlier.

(Reporting by Nandan ‌Mandayam ​and Nathan Gomes in Bengaluru; Editing by ‌Shinjini Ganguli)