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3M profit surges 43 percent, emerging markets a boost

    3M
    154,220+0,05%
    BOSTON (Reuters) - Diversified U.S. manufacturer 3M Co reported a 43.2 percent rise in profit, topping analysts' expectations, boosted by strong demand in key emerging markets.

    The company, which makes products ranging from Post-It notes to films used in flat-panel televisions, recorded second-quarter profit of $1.12 billion, or $1.54 per share, compared with profit of $783 million, or $1.12 per diluted share, a year earlier.

    Analysts, on average, had looked for earnings of $1.48 per share, according to Thomson Reuters I/B/E/S.

    Revenue rose 17.7 percent to $6.73 billion, in-line with the company's June 28 forecast.

    The St. Paul, Minnesota-based company, which also makes Scotch tape and bandages, noted during the quarter that the weakening euro could weigh its results during the second half of the year.

    3M (MMM.NY)shares are down less than 1 percent so far this year, a more modest decline than the 2 percent slide of the Dow Jones industrial average <.DJI>.

    (Reporting by Scott Malone; Editing by Derek Caney)

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