Swedish buy now, pay later service and online bank Klarna reported second quarter results, with net profit swinging to a profit of 9 million dollars from a loss of 53 million dollars a year earlier. Revenue rose 27 percent year on year to 1.04 billion dollars, adjusted operating profit was 91 million dollars, and gross merchandise volume rose 18 percent to 36.6 billion dollars. However, the company lowered its full-year gross merchandise volume outlook to between 149 billion and 151 billion dollars from more than 155 billion dollars previously, and cut its full-year revenue outlook to between 4.08 billion and 4.16 billion dollars from 4.34 billion dollars. It cited soft market conditions in Germany, its largest market, as the reason for the downward revision.
Klarna Group plcKlarna swung to profit and beat revenue estimates but lowered full-year outlook due to soft German market, creating mixed signals.
