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CCTV Script 25/10/17

— This is the script of CNBC's news report for China's CCTV on October 25, Wednesday.

Caterpillar on Tuesday blew past Wall Street's profit and revenue estimates. Total revenue rose to $11.41 billion, ahead of market estimates of $10.65 billion, and this number represents a 25% year-on-year increase. Now, the company has beaten markets' estimation on profits for six quarters in a row, and on earnings for three quarters consecutively.

Caterpillar said it now expects 2017 sales and revenue of $44 billion, up from its previous forecast of $42 billion to $44 billion. This is the third time this year that the company raised its full-year forecasts for sales and earnings, indicating Caterpillar's confidence in further growth of its services.

The company said it's experiencing the fastest growth in recent years, which can be shown in three core services of Caterpillar - machinery sales for the resource sector grew 8% year-on-year, followed by construction machinery sales, which was up 15% YoY. Finally, energy and transportation equipment sales rose 5% YoY.

Caterpillar's shares rose to an all-time high of $140.44, but pared some gains to trade up 4.98 percent at $138.37.

And the company fueled the DOW, which hit another record high in the previous session, raising by 167 points, or 0.72%.

[ATUL LELE, Deltec International Group CIO] "The earnings environment in the US is firstly incredibly strong, and also, the outlook for earnings, the indicators for earnings, which includes the ISM manufacturing index are consistently with still 10-15% EPS growth, at least over the next year, so not only the current earnings are a lot strong, but the outlook for earnings is incredibly strong, and that those top lined global macro-leaning indicators we use are really confirming some of the some companies' reports we see in term of their earnings guidance."

The company's growth has been fueled by surprisingly strong demand for its construction equipment in North America and robust sales in China.

The construction industry in North America is turning around after years of slow demand, fueled by a steady housing recovery, an improving labor market and higher spending by oil and gas companies.

Sales in North America, Caterpillar's biggest market, jumped 27 percent in the third quarter ended Sept 30. Construction revenue from the region rose 31 percent and revenue from resources, including mining, rose 28 percent. In the Asia Pacific region, Caterpillar's third-biggest, sales jumped 57 percent, boosted by demand from China.

CNBC's Qian Chen, reporting from Singapore.

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