STOCKHOLM, Aug 18 (Reuters) – Klarna, the Swedish “buy now, pay later” services provider and online bank, posted a profit in the second quarter on Tuesday while analysts had expected a net loss, helped by growth in its U.S. markets.
The company said its quarterly net profit was $9 million compared with a loss of $53 million in the year-earlier period, ahead of expectations of a loss of $17.4 million. Adjusted operating income was $91 million versus $29 million a year ago, it added.
Klarna’s April-June revenue grew 27% to $1.04 billion, beating expectations of $993.8 million.
Its gross merchandise volume (GMV), a metric for measuring sales, rose 18% to $36.6 billion in the quarter. GMV in the U.S. rose 27%.
However, the company trimmed its full-year GMV to between $149 billion and $151 billion, from greater than $155 billion seen previously, citing “a more measured view of primarily German volumes, our largest market by volume.”
(Reporting by Supantha Mukherjee in Stockholm, editing by Terje Solsvik)
