Company on track to return to profit before the end of 2023
IN BRIEF:
- Klarna’s first quarter results show the FinTech has halved its losses
- Net losses shrank to SKr1.3bn in the first quarter and credit losses decreased by over a third
- Klarna’s revenues also increased by 13% to SKr4.9bn
What does this mean?
Chief executive at Klarna, Sebastian Siemiatkowski commented: “We are on track to achieve profitability this year.” In February 2023, Klarna reported a $1 billion loss for 2022, btu their entry into the US market has marked growth for the company.
