January 30, 2014 / 12:59 PM / 5 years ago

3M profit rises 11 percent, but revenue misses Wall Street target

(Reuters) - Diversified manufacturer 3M Co (MMM.N) posted an 11 percent rise in fourth-quarter net income on Thursday, helped by higher earnings across most of its business lines, but sales missed Wall Street’s target.

3M Company's respirator masks are displayed in Encinitas, California April 22. 2013. REUTERS/Mike Blake

Revenue rose 2.5 percent to $7.57 billion, below the analysts’ average estimate of $7.71 billion.

The company, whose products include Post-it notes and film for flat-panel televisions, backed its 2014 profit and revenue targets.

3M said net income rose to $1.1 billion, or $1.62 per share, from $991 million, or $1.41 per share, a year earlier.

The results were in line with the analysts’ average estimate of $1.62 per share, according to Thomson Reuters I/B/E/S.

Reporting by Lewis Krauskopf; Editing by Lisa Von Ahn; Editing by Lisa Von Ahn

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