CNBC
Klarna on Wednesday reported a dramatic jump in losses in the first half, adding to a deluge of negative news for the “buy now, pay later” pioneer.
The Swedish payments firm generated revenues of 9.1 billion Swedish krona ($950 million) in the period spanning January to the end of June 2022. That was up 24% from a year ago.
But the company also racked up hefty losses. Klarna’s pre-tax loss soared more than threefold year-on-year to nearly 6.2 billion krona. In the first half of 2021, Klarna lost around 1.8 billion Swedish krona.