Klarna posts Q2 profit, revenue beat, cuts full-year GMV outlook

Published Aug 18, 11:35 AM UTC

Swedish buy-now-pay-later provider Klarna reported a Q2 net profit of $9 million, beating analyst expectations of a $17.4 million loss, compared to a $53 million loss a year earlier. Revenue grew 27% to $1.04 billion, exceeding forecasts of $993.8 million. Adjusted operating income rose to $91 million from $29 million. Gross merchandise volume (GMV) increased 18% to $36.6 billion, with U.S. GMV up 27%. However, Klarna trimmed its full-year GMV outlook to between $149 billion and $151 billion from over $155 billion, citing a more measured view of German volumes, its largest market. The stock fell 19% in pre-market trading on the news.