Klarna reported a transcription loss last quarter, with its stock price plummeting by 24%
Buy now, pay later company Klarna (KLAR.US) turned from profit to loss in the fourth quarter of last year, recording a loss of $26 million; revenue grew by 38% to $1.08 billion, slightly above the market expectation of $1.07 billion. The stock price fell 24% in early trading on Thursday.
Total gross merchandise volume grew by 32% to $38.7 billion during the quarter. Klarna has approximately 118 million active users, a year-on-year increase of 28%. During this period, about 115,000 new merchants were added, bringing the total to approximately 966,000.
Klarna expects revenue for this quarter to be between $900 million and $980 million, with market expectations at $966 million
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