Klarna Swings Into Quarterly Profit With 29% Revenue Jump
- US customer base continues to grow through retail partners
- Swedish firm cut operating costs 11% thanks partly to AI
The Klarna website.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Klarna Bank AB swung to an adjusted profit in the first quarter as the buy-now-pay-later firm slashed costs, making progress ahead of potentially one of the biggest stock market debuts of the year.
The Stockholm-based fintech said adjusted operating income was 229 million kronor ($21.6 million) for the three months through March, from a loss of 498 million kronor in the same period a year ago.