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Technology / AI and automation

COMPAQ ESCAPES EFFECTS OF ASIAN CURRENCY TURMOIL

Personal computer giant, Compaq Corp, said that prudent hedging against foreign currency exposure had insulated the company from the adverse effects of Asian currency turmoil. Speaking at Comdex in Las Vegas, Compaq’s chief financial officer Earl Mason reassured investors that currency impact would be minimal in the quarter and that the company should meet market estimates for the fourth quarter to December of $0.82 a share. Compaq turned over $18.1bn in its last fiscal year to December 1996, but CEO Eckhard Pfeiffer announced that his aim is to take the company into the $50bn region within three years.

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CBR Staff Writer

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