Compaq Slowly but Steadily Improves
The fourth quarter was not exceptional for Compaq, with sales actually decreasing from a year ago. Still, the PC maker was able to beat consensus earnings estimates by 19%.
Although Compaq (CPQ) did not have an exceptional fourth quarter, the company's results were good enough to exceed Wall Street's low expectations.
Despite posting both sales and earnings that were lower than the same quarter in 1998, Compaq managed to beat earnings expectations by 19%, or $0.03 per share. The company's revenues actually decreased 4% and profits decreased by more than 50% over the same quarter last year. But with Compaq's litany of problems in 1999, the lackluster results weren't much of a surprise.