3M Posts Profit Growth, Expects Electronics Recovery Mid-Year

Growth in industrial and automotive markets helped 3M offset weak consumer electronics demand and pushed first quarter earnings ahead of Wall Street estimates. The company reported net income of $1.1 billion  for its fiscal first quarter ended March 31st, up 4% from the same year ago quarter. Earnings of $1.59/share beat analysts’ estimates of $1.49/share, as reported by Thomson Reuters (New York). Sales increased 2%, to $7.5 billion. Sales increased across all company segments except electronic and communications and display graphics, which were...

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