New Products Help HP Post Healthy Gains

Citing solid growth in both domestic and foreign sales, Hewlett-Packard announced a 28% jump in second-quarter earnings and an increase of 18% for the first half of 1987.

The company, which manufactures computer products and systems, said it had second-quarter revenue of $2.02 billion, up 13%.

Revenue from U.S. sales increased by 8% to $997 million and foreign sales increased by 19% to $1.02 billion, the company said.

Palo Alto-based Hewlett-Packard said net earnings were $162 million for the quarter ended April 30 and $278 million for the six months.

“The company’s strong new-product cycle for the first six months has, in large part, fueled this momentum, which also has been aided by a rebound in the computer industry,” said John A. Young, Hewlett-Packard president and chief executive.