Compaq Computer Profit Up 70% for the Quarter

Compaq Computer, the fast-growing maker of IBM-compatible personal computers, said its profit rose 70% and its revenue climbed 24% in the second quarter.

Compaq attributed the strong second-quarter gains to good sales of its most powerful computers, such as its new Portable II, which are compatible with International Business Machines Corp.’s top-of-the-line PC AT.

Compaq’s earnings rose to $9.6 million from $5.7 million in the like 1985 quarter. Revenue rose to $147.1 million from $118.2 million.

For the first half, Compaq’s earnings rose 74% to $18 million from $10.3 million while revenue rose 35% to $291.1 million.

Rod Canion, Compaq’s president and chief executive, said in a news release that the fastest growth in the business personal computer market is coming from experienced personal computer users, who demand the powerful systems that his company specializes in.