Klarna Breaks Even After New York IPO #
Klarna reported its first break-even quarter since its $15 billion New York IPO in September, posting $1 million in net income for the first quarter compared with a $99 million loss a year earlier. Quarterly revenue rose 44% to $1 billion, supported by higher adoption of its debit card
The result matters because Klarna is trying to shift beyond its buy-now-pay-later roots toward a broader digital banking model, including debit cards and interest-bearing lending. The company’s shares have still fallen sharply since listing, while credit-loss provisions rose as its longer-term financing products expanded.