Kodak digital revamp bears fruit in Q2 profits

Eastman Kodak’s switch to a digitally-focused business strategy has helped it to post a rise in Q2 profit.

The firm posted net income of $154 million, or EPS of $0.54, compared with $112 million, or EPS of $0.39, a year earlier. Sales rose six per cent to reach $3.47 billion. CEO Dan Carp said the results reinforced the firm’s "confidence in the digitally orientated strategy".

He added: "Sales continue to increase, led by broad demand among consumers and commercial customers for our digital products and services. In fact, our digital revenue increased 48 per cent, more than offsetting a decline of eight per cent in traditional revenue."

Rochester (NY)