Another day packed with earnings. And we haven't even gotten to $AMD yet...

Before the market opened, however, we got numbers from three very interesting companies: $MCD, $CAT, and $SPOT.

The strongest numbers came from Caterpillar $CAT. Revenue grew by 24% to $20.5 billion, surpassing the twenty-billion mark for the first time in the company's history in a single quarter.

Adjusted earnings per share jumped from last year's $4.72 to $8.17, while the market was expecting $6.20.

Operating margin improved to 20.9% from 17.3%. The growth was driven by the construction division with plus 35%, in North America even plus 50%, and the energy segment, where sales of power generation tied to data centers rose by 29%.

The order backlog reached a record $72.1 billion. The company raised its full-year revenue outlook and lowered its estimate of tariff costs to about $2.2 billion. Shares are up 10.4%.

Spotify $SPOT became the first audio platform to surpass 300 million paying subscribers after adding 7 million. Revenue climbed 14% to €4.78 billion, gross margin reached a record 33.4%, and operating profit of €655 million beat its own guidance. However, total active users of 777 million slightly missed the target, and shares are down 5%.

McDonald's $MCD, on the other hand, confirmed pressure on consumers. Global revenue grew only 1.3%, in the US by 0.8% amid declining customer counts. Revenue growth to $7.1 billion was driven by higher average spend per customer rather than new customers. Shares are up 1.5%.