Why Eastman Kodak Stock Dropped 22.3% Wednesday
Eastman Kodak (NYSE: KODK), which specializes in commercial print and advanced materials and chemicals, saw its shares plummet 17% on Thursday. The stock is down more than 44% over the past year.
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The company released its first-quarter earnings after the market closed on Tuesday, and the results were mixed. Revenue was $290 million, up 9% from the same quarter last year, though down 5% sequentially. Kodak also reported a loss of $3 million in net income, down from positive net income of $6 million year over year.
Source Fool.com
