Caterpillar's quarterly profit rises on strong construction, power equipment sales

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Caterpillar

reported a higher first-quarter ⁠profit on Thursday, led by strong demand for ​its power ​generation and ​construction equipment, sending its shares up nearly 5% in premarket trading.

The company, seen ⁠as ‌a bellwether for the global ⁠industrial economy, reported an adjusted per-share profit of $5.54 in the January-March period, compared with $4.25 a year ‌earlier.

Over the last year, Caterpillar’s power and energy segment has seen ​a windfall from data center clients seeking power generation and backup equipment to fuel surging use ⁠of artificial intelligence.