China, India lift 3M profit above expectations

Markets Reuters

NEW YORK (Reuters) - Industrial and consumer goods conglomerate 3M Co reported higher-than-expected quarterly profit on Tuesday, helped by sales to emerging markets, and raised its full-year profit forecast.

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3M posted net earnings of $1.08 billion, or $1.49 per share, compared with $930 million, or $1.29 per share a year earlier. Analysts on average expected profit of $1.44 per share, according to Thomson Reuters I/B/E/S.

The maker of Post-It notes, industrial abrasives and healthcare and electronics products expects 2011 profit of $6.05 to $6.25 a share, despite a negative impact from Japan's earthquake and tsunami of as much as 13 cents a share.

In January, it forecast 2011 profit between $5.95 and $6.20 a share.

(Reporting by Nick Zieminski. Editing by Robert MacMillan)

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