TECHNOLOGY - Aug. 17, 1995
<i> Times Staff and Wire Reports</i>
HP’s Profit Soars: The computer, printer and measuring device maker, buoyed by broad-based sales growth, said its fiscal third-quarter profit rose 66%. Palo Alto-based Hewlett-Packard Co. earned $576 million, or $1.09 a share, for the three months ended July 31. The results account for the company’s 2-for-1 stock split in March. Revenue rose 28%, to $7.7 billion from $6.1 billion. Orders for the quarter reached $8 billion, up from $6 billion a year ago. During the second quarter, HP had only a modest rise in revenue, partly because the company underestimated demand. HP launched a new line of personal computers this week, hoping to capitalize on its reputation in printers and business computers.
