China, India lift 3M profit above expectations

Industrial and consumer goods conglomerate 3M Co reported higher-than-expected quarterly profit on Tuesday, helped by sales to emerging markets, and raised its full-year profit forecast.

3M posted net earnings of $1.08 billion, or $1.49 per share, compared with $930 million, or $1.29 per share a year earlier. Analysts on average expected profit of $1.44 per share, according to Thomson Reuters I/B/E/S.

Sales rose 15 percent to $7.31 billion, ahead of Wall Street forecasts of $6.95 billion.

"Our businesses are growing most everywhere in the world," Chief Executive George Buckley said in a statement.

Read Full Article from Reuters

- Posted: 2011-04-26 11:34:32

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