ST PAUL, Minn. (AP) — 3M Co. (MMM) on Thursday reported third-quarter net income of $1.3 billion.
The St Paul, Minnesota-based company said it had profit of $2.05 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.01 per share.
The maker of Post-it notes, industrial coatings and ceramics posted revenue of $7.71 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $7.9 billion.
3M expects full-year earnings in the range of $7.73 to $7.78 per share, with revenue expected to be $2.6 billion.
3M shares have decreased roughly 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined nearly 2 percent. The stock has increased slightly more than 6 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MMM at http://www.zacks.com/ap/MMM
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Keywords: 3M, Earnings Report, Priority Earnings
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