3M 3Q net income rises 6 pct, beats predictions



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    First Posted: 10/24/2013

    (AP) 3M Co. says its third-quarter net income rose 6 percent, beating Wall Street predictions.

    The company, which makes items including Post-it notes, reflective coatings for signs, and glues and adhesives, earned $1.23 billion, or $1.78 per share, up from $1.16 billion, or $1.65 per share, in the same quarter of 2012.

    Revenue rose 6 percent to $7.92 billion from $7.5 billion.

    Analysts surveyed by FactSet expected earnings of $1.75 per share on revenue of $7.86 billion.

    Maplewood, Minn.-based 3M gets more than half of its revenue from outside the U.S. and its products are used in a variety of industries, so its results are watched closely as an economic indicator.

    Its shares are up 80 cents to $124 in premarket trading about an hour ahead of the market opening.

    Associated Press
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