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Martin Moylan
St. Paul, Minn.

Q2 profits up at 3M

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3M's second-quarter profit jumped 6 percent as sales surged across all its businesses.

The maker of Post-it notes, industrial coatings and ceramics posted net income of $1.3 billion, compared with $1.2 billion in the same quarter a year ago. Earnings met Wall Street expectations. Meanwhile, sales rose about 5 percent to $8.1 billion.

"We thought they had really solid quarter, quite broad-based across all their different operating divisions and really broad-based around the globe as well," said Matt Arnold, an analyst with Edward Jones. "From that perspective, we think they delivered a good set of results."

Most of 3M's sales are outside the U.S. The company's results are watched closely as an economic barometer because its products are used in the automotive, aviation, housing, health care and many more industries around the world.