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Compaq posts 9% earnings increase

Compaq announced net income of $267 million for the second quarter.

Compaq Computer today announced net income of $267 million for the second quarter, an increase of 9 percent over the same period last year.

Compaq's worldwide sales were $4 billion, up 14 percent from last year's second quarter.

Earnings rose to 96 cents per share, compared with 90 cents reported last year. Compaq's stock rose 3-5/8 to 48-5/8 in midday trading.