ST. PAUL, Minn. (AP) — 3M says its first-quarter net income rose 7 percent, led by sales growth in its health care business.
The maker of products from Post-it notes to industrial coatings and ceramics said Thursday that it earned $1.21 billion, or $1.79 per share, for the three months through March 31. A year earlier it earned $1.13 billion, or $1.61 per share.
Earnings were a penny shy of analysts' expectations, according to FactSet.
Revenue increased 3 percent, to $7.83 billion from $7.63 billion, but missed the $7.97 billion Wall Street forecast.
Foreign currency fluctuations lowered revenue by 2 percent. 3M Co. gets a considerable amount of revenue from outside the U.S., making it susceptible to currency swings.
The company maintained its earnings forecast for the year.