Caterpillar posts record quarterly revenue as backlog swells

Caterpillar posted a record-run Q2 revenue of $20.5 billion, up 24% year over year, with backlog climbing to $72.1 billion (up 92% YoY) and a margin of 20.9% versus 17.3% a year ago; strong orders across all three segments and AI-related data-center infrastructure demand helped drive the gains, and the stock jumped about 10% intraday, aiding the Dow.