Klarna Shares Jump on Better Than Expected First Quarter
The Swedish fintech reported a quarterly operating income of $17 million as active consumers rose to 119 million. While revenue reached $1 billion and surpassed analyst expectations, the company issued a cautious second-quarter forecast that fell slightly below market projections.
KLARNA GROUP PLC reported first-quarter operating profit of $17 million, reversing a $90 million loss from the previous year, as the Sweden-based online bank and buy now, pay later provider beat revenue estimates. Active consumers grew 21% to 119 million, signaling strong demand for installment-based lending. Investors pushed shares up 12% in United States premarket trading.
### Profitability Pivot Drives Share Gains Klarna shifted its focus toward the bottom line after a growth-heavy strategy in the fourth quarter reduced its market value by roughly a quarter. Adjusted operating profit reached $68 million, up from $3 million a year ago, surpassing analyst expectations of $9 million.
