3M surprises with strong quarterly figures: share price rises by 5%

3M surprises with strong quarterly figures: share price rises by 5%

The multi-technology group 3M presented impressive business figures in the first quarter of 2024 that exceeded analysts' expectations in terms of both sales and profits. After the quarterly figures were announced, the share price rose by around 5%. Particularly notable is the increased demand in the electronics sector, driven by the need for components for cell phones and cars. Despite the current high inflation and general reluctance to buy expensive products, 3M reported organic sales growth of 0.8% to $7.72 billion, beating expectations of $7.63 billion. The transportation and electronics sector played a crucial role in this positive result, while other sectors such as the consumer sector recorded declines.

The overall outlook for 3M is positive, particularly due to stable demand in the electronics sector and continued innovation. The company's dividend is also attractive for investors looking for a solid return. The company has established itself as a leading provider of technology solutions and is expected to continue to benefit from increasing demand for electronic components.

Overall, 3M presented impressive business figures in the first quarter of 2024 that exceeded expectations and offer a positive future outlook for the company. The increased demand in the electronics sector and the focus on innovative solutions have contributed to this success. Investors can be pleased with 3M's stable performance and hope for further positive developments in the future.