Net income fell to $988 million, or $1.38 per share, from $1.4 billion, or $1.85 per share, a year earlier.
NEW YORK (Reuters) - 3M Co <MMM.N>, a diversified manufacturer whose products include Scotch tape and Post-It notes, reported lower first-quarter profit on Thursday but beat analysts' estimates as strong international sales offset economic challenges in the United States.
Net income fell to $988 million, or $1.38 per share, from $1.4 billion, or $1.85 per share, a year earlier.
Analysts' average earnings forecast was $1.35 per share, according to Reuters Estimates.
The year-earlier results included a one-time gain of 57 cents per share from the sale of the company's branded drug business in Europe.
!ADVERTISEMENT!Sales rose 8.9 percent to $6.5 billion, topping analysts' forecast of $6.32 billion.
(Reporting by Helen Chernikoff; editing by John Wallace)
