(Reuters) -3M Co beat Wall Road estimates for quarterly income, as individuals purchased extra private security merchandise to stave off potential coronavirus an infection.
The corporate’s N95 masks, which offer a excessive stage of filtration in opposition to airborne contaminants, in addition to its residence enchancment and normal cleansing tools have been in excessive demand because the world continues to struggle the brand new coronavirus.
Gross sales within the firm’s security and industrial unit jumped 13.7% to $3.3 billion within the quarter ended March 31.
Internet earnings attributable to 3M rose to $1.62 billion, or $2.77 per share, from $1.31 billion or $2.25 per share, a yr earlier.
Internet gross sales rose 9.6% to $8.85 billion, beating analysts’ common expectation of $8.47 billion, based on Refinitiv knowledge.
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