3M Profits up 3 percent, Tops Estimates
http://www.nytimes.com/reuters/business/business-3m.htmlNew York Times, and Reuters...
BOSTON (Reuters) - Diversified U.S. manufacturer 3M Co <MMM.N> reported a 3 percent rise in quarterly earnings on Thursday, topping the average Wall Street forecast, as strong international demand more than offset a slowing U.S. economy.
The company, whose products range from Scotch tape to optical films for liquid crystal displays, posted second-quarter profit of $945 million, or $1.33 per share, up from $917 million, or $1.25 per share, a year earlier.
Factoring out one-time items, profit was $1.39 per share. On that basis, analysts had expected $1.35, according to Reuters Estimates.
Revenue came to $6.74 billion, up nearly 10 percent from a year earlier.