Klarna Shrinks Losses With Sales Growth and Cost-Cutting
- Revenue rose 15% in the first half of the year, Klarna says
- Swedish buy-now-pay-later firm achieves a profitable month
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Klarna Bank AB’s losses narrowed in the first half of the year as its growing customer base continued to pay back their buy-now-pay-later debts in the face of inflation pressures.
The Stockholm-based fintech reported an adjusted operating loss of about 2 billion Swedish kronor ($185 million) for the six months through June, down from 6.2 billion kronor in the same period a year ago. Revenue rose by about 15% to 10.5 billion kronor.