Why 3M Co's Stock Popped 7% Today
Shares of industrial conglomerate 3M Co (NYSE: MMM) jumped as much as 7.3% in trading Tuesday after the company reported earnings. After years of very slow growth, 3M reported organic local currency growth of 6.6%, driving investors to hope that a turnaround in operations is here. At 11:40 a.m. EDT, shares were still up 6.9% for the day.
Revenue jumped 6% to $8.17 billion and net income was up 7.5% to $1.43 billion, or $2.33 per share. Analysts were only expecting $7.91 billion in revenue and $2.21 per share in earnings, so investors were definitely surprised by the results.
Image source: Getty Images.
Source: Fool.com
3M Company Aktie
152,90 €
0,20 %
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