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Compaq profit jump marks business u-turn

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Compaq has reported Q3 profits jumped sharply on the back of strong sales across all its lines. The news didn't stop its stock slipping by four per cent, and though it expects strong growth to continue into Q4, it has reduced full-year earnings forecasts to adjust for impact of the week euro. Revenue forecasts remain the same.

Net income for the three months ending 30 September hit $550 million, compared with $140 million for the same period a year ago. Sales rose 22 per cent to $11.2 billion, up from $9.2 billion a year earlier.

Revenues from servers using Unix rose just five per cent compared with sales from servers using Windows, which grew 41 per cent.

CEO Michael Capellas said he expected 18 per cent revenue growth in Q4 and earnings growth in excess of 40 per cent in 2001. ®

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