Yesterday, we got some hints that Caterpillar (NYSE:CAT) may not see the revenue investors had hoped for and today the news dropped. Second-quarter revenue fell 3.2% to $14.15 billion, below an already depressed Wall Street estimate of $14.31 billion.

The good news is that costs were kept under control so profits were up 4% to $999 million, or $1.57 per share. After pulling out restructuring costs, earnings were $1.69 per share, $0.16 ahead of estimates.  

Shares were down almost 3% as of 11:30 a.m.

Mining, particularly in Asia, continues to be depressed for Caterpillar and there doesn't seem to be any end in sight to the business' struggle. As a result, management lowered full-year guidance from $56 billion +/- 5% to $54 billion to $56 billion. But once again costs are under control and earnings per share guidance was increased by a dime to $6.20 per share.

Caterpillar is running into macroeconomic trends that are reducing demand, but management has adjusted well to keep profits up. That ability to react is why investors should look at today as a buying opportunity. Demand will eventually return and when it does Caterpillar will be prepared to take advantage.

Is this the next big gadget?
Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. And there's one small company making Apple's gadget possible. And its stock price has nearly unlimited room to run for early in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!

Travis Hoium manages an account that owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.