Klarna reports Q2 losses amid US expansion plans
0
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
The plan to go public was delayed while trade tariffs were stirring up the market, but Klarna is back on track to be listed in the fall.
According to the Financial Times, Klarna reported a $53 million loss for the three months to June, up from $18 million for the same time last year, and a Q2 loss of $24 million.
The Swedish fintech is expanding its offering, having gained an Electronic Money Institution licence from the UK's FCA in June, gearing up to dominate the retail banking sector.
The BNPL giant has been awaiting its expansion into the US, with revenues increasing to $823 million this year, rising 21%.
Klarna CEO Sebastian Siemiatkowski revealed in May that the company was going to scale back their AI strategy and focus on human support in customer service.
Klarna reported that credit losses declined from last year, reporting 0.45% of volume this year, compared to 0.48% in 2024.
Earlier this month, Klarna's delinquency rate on BNPL loans fell, which was an improvement on last year's reports.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
2 minutes ago
- Daily Mail
Which of the record-breaking big four can you bank on for the healthiest profits? Investing expert Joanne Hart reveals all
It was all supposed to be different. When feisty newcomers such as Metro, Revolut and Monzo burst on to the British banking scene, there were high hopes for change. These new kids on the block would upend the traditional order and give the 'big four' – Barclays, HSBC, Lloyds and NatWest – a run for their money. Some 15 years later, however, and the Big Four are still very big – and growing bigger. They hold more than 60 per cent of all bank deposits, enjoy a chunky share of the mortgage market and dominate business lending too. Having closed thousands of branches and slashed staff numbers, they are also making record profits and there could be more growth to come.
Daily Mail
2 minutes ago
- Daily Mail
Why Aston Villa are missing Marcus Rashford and Marco Asensio - and how Newcastle exploited their dire need to sign new players by shackling Youri Tielemans, writes JAMES SHARPE
Just before the hour mark, Aston Villa midfielder Boubacar Kamara collected the ball inside his own half, picked his head up, and spotted the run of Morgan Rogers ahead of him. Kamara tried to dink a little cross-field pass towards his Villa team-mate only to miscue it, caught it fat as a golfer would say, and like so many of his team's passes on the opening day of the new Premier League season, it ended up at the feet of a green shirt. He flung his head back and turned away in disgust. Seconds later, he brought down Anthony Gordon and found himself in Craig Pawson's notebook. Kamara's moment of frustration encapsulated Villa's goalless draw with Newcastle and made one thing abundantly clear: they need to sign some players. The problem is: they can't. Everyone knows Villa are locked in PSR's handcuffs. They have had to weaken their squad to keep in line with regulations. They are about to sell Jacob Ramsey to Newcastle for £40million but can't spend a penny of it. It was little surprise to hear Villa spend much of the second half voicing in musical form their opinion that the Premier League is 'corrupt as f***'. Villa last season could call on the precision of Marco Asensio and the speed and directness of Marcus Rashford, but not anymore. Villa are keen to get Asensio back on loan from Paris Saint-Germain and, boy, do they need him. 'We are ambitious, trying to respect the rules and trying to get the best players possible, trying to play the way we are: to be contenders for Europe and to compete like we did today,' said Emery afterwards on the current state of Villa's transfer window. 'We are not going to rest in case we can have some options in the transfer window.' In his programme notes, Emery had written that 'financial control rules came to football to avoid bankruptcies and payment defaults, with a good purpose. But as professionals we should review it, for this good tool will become a limitation for the clubs that are doing good management, who will never be allowed to dream and get higher goals.' Before kick-off, a huge display of Emery was hoisted into the air with a sign that read: 'No limits to our dreams'. There were plenty of limits to their team and to their play. The current state of Villa's squad meant that Emery started Youri Tielemans in the No10 role behind Ollie Watkins with Kamara and Amadou Onana behind them. It left Tielemans completely unable to dictate the game for Villa like he so often did last season. Whenever Villa had the ball, Newcastle sat deep in a 4-5-1 and the hosts just could not find a way through. They had no one to pull the strings. Kamara and Onana are both combative ball winners, and good at it, but neither possess the ability to pick locks like Tielemans – Newcastle's Bruno Guimaraes was the only Premier League midfielder to complete more passes between the lines last season. It left Villa producing one of their sloppiest passing performances in front of their own crowd in a long time, even if the result means it is now a full year since they last tasted league defeat at home. They mustered just three shots and none in the first half. The last time they faced Newcastle at home, back in April, they had 23 and won 4-1. That day, Tielemans picked out Watkins' run with a splitting pass for Villa to take the lead inside a minute. There was none of that here. Tielemans was so often too high up the field, surrounded by green shirts, happy to let his team-mates behind him pause and ponder. Villa Park's 73 per cent pass competition was their lowest in a home fixture since December 2023. Villa have only had less than the 41 per cent possession they had here in a home game four times since the start of 2023. The only time Tielemans moved into a deeper role was when Ezri Konsa became an early contender for Most Obvious Red Card of the Season for pulling back Anthony Gordon when clean through on goal. While Villa found it impossible to play through Newcastle, without the likes of Rasmey and Rashford they offered little width to go around them either. Rogers drifted centrally to support Watkins, as he usually does, on the few occasions Villa managed to get into decent areas while it was John McGinn tasked with staying wide down the right but had little impact on the game with little support from Matty Cash at full-back. It made you wonder what Donyell Malen had to do to earn a start, having scored twice and set up three goals during pre-season. He did eventually come on in the 84th minute and had attempted one Villa's three shots by the 86th. Watkins, who'd bagged five goals in pre-season, endured a difficult afternoon too. His first shot of the game came after the hour and only on a handful of times was able to burst into space, on one occasion pulling a ball back into the six-yard area and pulling his shorts up in frustration, Fabien Barthez-style, when there was no one there to get on the end of it. Much of Villa's goalscoring hopes rest on Watkins' shoulders, a player who has not always found it easy to hold Emery's trust with Rashford and Jhon Duran often rivalling him for minutes while at the club despite only Erling Haaland and Mo Salah scoring more Premier League goals than Watkins since promotion in 2020. There were still some positives for Emery to take from the game, their year-long unbeaten milestone aside. Villa battled well and kept their shape after going down to 10 men. For all the possession Newcastle had, they were still unable to fashion many clear-cut chances. And whenever they had one in the first half, debutant goalkeeper Marco Bizot was on hand to keep them out. The 34-year-old, one of few summer signings, beat away an early strike from Anthony Elanga before tipping Gordon's effort around the post. His antics late on to run the clock down, including pretending to roll the ball to every defenders in front of him before booting it upfield before his eight-second time-wasting counter had ticked down to zero, suggested the spirit of Emi Martinez still lives on between the Villa sticks.
BBC News
32 minutes ago
- BBC News
Bedford council pulls out of buying Lloyds Bank building
Plans to buy a bank building have been scrapped by a Borough Council says it will no longer purchase the Lloyd's Bank building in High Street, citing financial pressure and ongoing uncertainty over the viability of a major town centre regeneration decision, signed off by Mayor Tom Wootton, reverses key parts of a resolution from last year which approved the £1.375m building was earmarked for inclusion in the proposed Mayes Yard development, but progress in appointing a developer has been slow, and concerns remain over the project's financial feasibility. According to the Local Democracy Reporting Service, the council stressed it remained "fully committed" to regenerating Bedford town centre and could still intervene in the property market in future to support the could include negotiating a private sale or using compulsory purchase powers – a move the council's executive backed in principle last set aside for the purchase, stamp duty, legal fees and essential maintenance – more than £1.5m – is now not required. Follow Beds, Herts and Bucks news on BBC Sounds, Facebook, Instagram and X.
