ST PAUL, Minn. (AP) _ 3M Co. (MMM) on Thursday reported third-quarter profit of $1.3 billion.
The St Paul, Minnesota-based company said it had profit of $1.98 per share.
The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.96 per share.
The maker of Post-it notes, industrial coatings and ceramics posted revenue of $8.14 billion in the period, which fell short of Street forecasts. Analysts expected $8.23 billion, according to Zacks.
3M expects full-year earnings to be $7.40 to $7.50 per share.
3M shares have decreased nearly 1 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 4 per cent. The stock has increased 12 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. MMM stock research report from Zacks: http://www.zacks.com/ap/MMM
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