柯达，可能撑不了太久了

Core Viewpoint - Kodak has warned investors about its potential inability to sustain operations long-term, leading to a nearly 7% drop in stock price following the announcement of its financial results, which highlighted significant doubts about the company's viability due to a lack of financing options and upcoming debt obligations of approximately $500 million [1]. Financial Performance - In Q2, Kodak reported revenue of $263 million, a slight decline from $267 million in the same period last year. The company incurred a loss of $0.36 per share, compared to a profit of $0.23 per share in the previous year [1]. - To raise cash, Kodak plans to terminate pension payments [1]. Historical Context - Founded in 1892, Kodak's history dates back to 1879 when George Eastman patented the first coating machine. The first Kodak camera was launched in 1888, aimed at making photography accessible to the general public [2]. - Kodak dominated the film market in the 20th century, achieving a market share of 90% in the U.S. film market and 85% in the camera market during the 1970s [2]. Technological Disruption - Kodak's strong market position was ultimately disrupted by its own invention of the first digital camera in 1975, which it failed to capitalize on [3]. Bankruptcy and Recovery Attempts - Kodak filed for bankruptcy protection in 2012, with total debts reaching $6.75 billion and around 100,000 creditors [4]. - In 2020, Kodak experienced a brief resurgence when the U.S. government designated it to produce pharmaceutical ingredients, leading to a significant spike in stock price [5]. Despite ongoing losses, Kodak aims to expand its pharmaceutical business while continuing to supply film and chemicals to the movie industry [5].