Caterpillar Shares Hit New High After Earnings Beat

Caterpillar has reported a strong Q2 performance, surpassing expectations with $5.67 in adjusted profit and $16.5 billion in revenue. The CEO attributes this success to healthy demand and double-digit growth. Despite global recession concerns, Caterpillar's results indicate economic resilience. The company's machinery demand grew by 16%, outperforming tech giants like Microsoft. Caterpillar has effectively managed price increases on large items, contributing to its stock's best performance since June 7th, with a year-to-date increase of over 10%.

What percentage growth did Caterpillar achieve in its machinery segment?

What was the market reaction to Caterpillar's stock performance mentioned in the text?