3M Rises Most in Almost 3 Years as Profit Beats Estimates
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3M Co. rose the most in almost three years after third-quarter profit at the maker of Post-it notes and Scotch tape beat analysts’ estimates, as higher sales in the health care unit led revenue gains across all the company’s business lines.
Third-quarter operating margins were 23.4 percent, up 1.4 percentage points from a year earlier. Net income rose 5.9 percent to $1.3 billion, or $1.98 a share, the St. Paul, Minnesota-based company said. That exceeded the $1.96 average analyst estimate.