Eastman Kodak's stock experienced a significant after-hours plunge of 5.72% following the release of its first-quarter financial results.

The sharp decline came after the company reported a net loss of $16 million for the quarter, with losses per share widening to $(0.21) compared to $(0.12) in the same period last year, representing a 75% increase in losses year-over-year.

While the company reported a 7.29% increase in quarterly sales to $265 million, investors focused on the deteriorating bottom line, leading to the post-market selloff.