Post-it maker 3M's results top estimates

[April 25, 2017]   (Reuters) - 3M Co <MMM.N>, which makes Scotch tape and Post-it notes, reported better-than-expected quarterly results and raised its 2017 profit forecast, helped by growth across its major businesses.

The 3M logo is pictured on products at an Orchard Supply Hardware store in Pasadena, California U.S., January 24, 2017. REUTERS/Mario Anzuoni/File Photo

Shares of the company were up 2.4 percent at $198.70 in premarket trading on Tuesday.

The company said it expected 2017 earnings in the range of $8.70 to $9.05 per share, compared with its earlier forecast of $8.45 to $8.80 per share.

Net income attributable to the company rose to $1.32 billion, or $2.16 per share, in the first quarter ended March 31 from $1.28 billion, or $2.05 per share, a year earlier.

Net sales rose 3.7 percent to $7.69 billion.

Analysts on average were expecting adjusted earnings of $2.06 per share and sales of $7.47 billion for the quarter, according to Thomson Reuters I/B/E/S.

(Reporting by Arunima Banerjee and Shashwat Awasthi in Bengaluru; Editing by Anil D'Silva)

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