3M’s Profit Gain Is Smallest in 3 Years
- Share via
3M Co., maker of more than 50,000 products including software and Scotch tape, had its smallest quarterly profit gain in three years, hurt by a drop in sales of film to brighten computer and cellphone screens.
Second-quarter net income rose less than 1% to $776 million, or $1 a share, from $773 million, or 97 cents, a year earlier, the St. Paul, Minn.-based company said. It had costs of $75 million in the quarter to repatriate overseas income. Sales climbed 5.6% to $5.29 billion, with 3.5 percentage points coming from currency gains.
Shares of 3M fell 92 cents to $74.53.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
