UPDATE: 3M Posts Higher Q4 Profit

3M Co

reported a gain in its fourth-quarter profit. 3M's quarterly profit surged to $1.10 billion, or $1.62 per share, from a year-ago profit of $991 million, or $1.41 per share. Its revenue climbed to $7.57 billion versus $7.39 billion. However, analysts were estimating earnings of $1.61 per share on revenue of $7.73 billion. 3M shares closed at $130.25 yesterday.