PhotographY giant Eastman Kodak reported a 4.5 per cent increase in second-quarter operating profit yesterday, meeting Wall Street's expectations, and forecast that third-quarter results would rise in line with analysts' estimates.

Excluding depreciation and onetime items, the Rochester, NY, company reported second-quarter profits of $513 million (€549 million), or $1.65 a share, matching the consensus estimate of analysts polled by First Call/Thomson Financial.