Klarna swings to $3 million adjusted profit in Q1
FILE PHOTO: A sign is pictured at the entrance of Klarna's headquarters in Stockholm, Sweden on May 25, 2022. REUTERS/Supantha Mukherjee/File Photo
COPENHAGEN (Reuters) - Swedish fintech Klarna, which last month paused plans for an initial public offering, reported a first-quarter adjusted profit of $3 million on Monday, lifted by growing volumes in the United States and efficiency gains from artificial intelligence.
Klarna's comparable result for the January-March period of 2024 stood at a loss of $2 million when adjusting for the sale of its Klarna Checkout (KCO) business.
The company said its overall revenue grew to $701 million from a year-ago $621 million.
In the United States alone, revenue grew 33% year-on-year, Klarna said.
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)
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