EARNINGS : Compaq Profit Soars 41%
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From Times Wire Services
HOUSTON — Paced by booming sales in Europe, Compaq Computer Corp. today reported that earnings soared 41.9% in the third quarter.
The Houston-based personal computer maker said net income jumped to $123.6 million from $87.1 million in the 1989 period. Revenues grew 26.4% to $863 million from $683 million.
It said that European and international sales grew by 54% in the quarter, and accounted for just over half of total revenue.
Compaq, a leading maker of portable computers, has benefited from strong demand in Europe as businesses there strive to become more efficient before the creation of a unified market in 1992. Compaq is the second-largest PC company in Europe behind IBM.
