FILE - In this Wednesday, Sept. 17, 2014, file photo, a Caterpillar 349E Hydraulic Excavator operates on a construction site in Miami Beach, Fla. Caterpillar reports financial results Tuesday, Oct. 25, 2016. (AP Photo/Wilfredo Lee, File)

FILE - In this Wednesday, Sept. 17, 2014, file photo, a Caterpillar 349E Hydraulic Excavator operates on a construction site in Miami Beach, Fla. Caterpillar reports financial results Tuesday, Oct. 25, 2016. (AP Photo/Wilfredo Lee, File) (The Associated Press)

Caterpillar beats 3Q profit forecasts

Markets Associated Press

Caterpillar Inc. (CAT) on Tuesday reported third-quarter net income of $283 million.

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The Peoria, Illinois-based company said it had net income of 48 cents per share. Earnings, adjusted for non-recurring costs, came to 85 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The construction equipment company posted revenue of $9.16 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $9.8 billion.

Caterpillar expects full-year earnings to be $3.25 per share, with revenue expected to be $39 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAT at http://www.zacks.com/ap/CAT

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Keywords: Caterpillar, Earnings Report, Priority Earnings