Klarna returns to profitability as more shoppers borrow
Klarna reported its first quarterly operating profit in four years as it attracted more consumers to buy now, pay later loans, giving the firm a boost as it lays the groundwork for an initial public offering.
The Stockholm-based fintech reported an operating profit of 130 million Swedish kronor ($18.5 million) for the three months through September, while revenue rose by about 30 per cent to 6 billion kronor. It is the firm’s first profitable result since the second quarter of 2019.
Bloomberg
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