Caterpillar Q4 Revenue Dips 23 pct

Caterpillar Inc's quarterly revenue slumped 23 percent as weak commodity prices and slowing economic growth in developing countries hit demand for its products.

The world's largest construction and mining equipment maker's total sales and revenue fell to $11.03 billion in the fourth quarter ended Dec. 31, from $14.24 billion a year earlier.

Caterpillar reported a quarterly loss attributable to common stockholders of $87 million, or 15 cents per share, compared with a profit of $757 million, or $1.23 per share, a year earlier.

Excluding restructuring costs, Caterpillar earned 74 cents per share, compared with $1.35 per share.

 

Reporting by Ankit Ajmera