3M profit rises 6 percent, sales up across businesses

Thu Jul 24, 2014 8:07am EDT

3M Company's respirator masks are displayed in Encinitas, California April 22. 2013.         REUTERS/Mike Blake

3M Company's respirator masks are displayed in Encinitas, California April 22. 2013.

Credit: Reuters/Mike Blake

(Reuters) - 3M Co (MMM.N) posted a 6 percent rise in quarterly profit on Thursday, helped by broad sales growth across the U.S. manufacturer's range of businesses.

The company, whose products include Post-it notes and films for electronic devices, said second-quarter net income rose to $1.27 billion, or $1.91 per share, from $1.2 billion, or $1.71 per share, a year ago.

Profit matched the $1.91 per share average estimate of analysts, according to Thomson Reuters I/B/E/S.

Revenue rose 4.9 percent to $8.13 billion, ahead of the $8.09 billion expected by analysts.

The company backed its full-year forecast for earnings in a range of $7.30 to $7.55 per share on sales growth of 3 percent to 6 percent. Analysts are looking for $7.46 per share in earnings for the year.

Through Wednesday, 3M shares had climbed 3 percent this year, in line with the increase for the Dow Jones industrials average .DJI.

(Reporting by Lewis Krauskopf; Editing by Franklin Paul and Bernadette Baum)

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