Daniel Acker | Bloomberg | Getty Images

3M’s Scotch brand tape on display for sale at a supermarket in Princeton, Illinois.

3M on Thursday reported first-quarter earnings and revenue that badly missed analysts’ expectations and cut its full-year forecast.

The maker of Post-Its and Scotch tape also announced plans to cut 2,000 positions worldwide.

Shares of 3M tumbled nearly 8% in premarket trading following the announcement.

Here are the numbers 3M reported:

  • Earnings per share: $2.23, adjusted vs. $2.49 expected, per Refinitiv survey of analysts
  • Revenue: $7.863 billion vs. $8.025 billion expected, per Refinitiv survey

The company slashed its full-year outlook to $9.25 to $9.75 a share, from $10.45 to $10.90 per share.

This story is developing. Please check back for updates.



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