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Caterpillar posts higher quarterly profit


    (Reuters) - Caterpillar Inc on Thursday reported higher-than-expected second-quarter earnings as a rebound in sales to builders offset a continued slump in the mining sector.

    The company, the world's largest maker of earth-moving equipment, posted a second-quarter profit of $999 million, or $1.57 a share, up from $960 million, or $1.45 a share, last year.

    CATERPILLAR (CAT.NY) which also makes railroad locomotives as well as diesel and turbine engines, said sales fell 3 percent to $14.15 billion.

    Analysts, on average, expected the Peoria, Illinois-based company to report a profit of $1.52 a share on sales of $14.4 billion, according to Reuters estimates.

    (Reporting by James B. Kelleher in Chicago)