Klarna Trims Full-Year Revenue, Volume Outlook as German Retail Weakens
The Swedish buy now, pay later company beat Wall Street forecasts as quarterly net profit reached $9 million and U.S. gross merchandise volume rose 27%.
- On Tuesday, Swedish 'buy now, pay later' provider Klarna Group plc reported a $9 million second-quarter profit, beating analyst expectations of a net loss.
- April-June revenue grew 27% to $1.04 billion, surpassing Wall Street expectations of $993.8 million as international market expansion drove the performance.
- Quarterly net profit reached $9 million, a turnaround from a $53 million loss in the year-earlier period, while adjusted operating income hit $91 million.
- Gross merchandise volume rose 18% to $36.6 billion; however, Klarna trimmed its full-year GMV forecast to $149 billion–$151 billion due to German market softness.
- Klarna projects full-year revenue between $4.08 billion and $4.16 billion, positioning the company to sustain profitability despite macroeconomic headwinds in key European markets.
22 Articles
22 Articles
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The Economic Times
Times of IndiaKlarna trims full-year revenue, volume outlook as German retail weakens
Klarna has adjusted its full-year volume and revenue forecasts downwards, citing difficulties in the German market. This decision resulted in a notable decrease in the company's shares during premarket trading. Nonetheless, a surprising profit in the second quarter was reported, buoyed by growth in the U.S. market, which helped mitigate some of the adverse effects of the forecast.
Klarna Reports Second-Quarter Profit as It Widens User Offerings
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