Klarna Group Plc (NYSE:KLAR) shares traded higher Thursday after the buy now, pay later company reported first-quarter results that topped Wall Street estimates, driven by strong consumer and merchant growth across its global payments network.
Revenue rose 44% year over year to $1 billion, ahead of the analyst consensus estimate of $945.1 million. Gross merchandise value climbed 33% to $33.7 billion, supported by 39% growth in the U.S. and 31% growth outside the U.S.
Klarna Profitability And Margins Improve
Adjusted operating profit improved to $68 million from $3 million a year earlier, while net income swung to a profit of $1 million from a loss of $99 million in the prior-year quarter.
Transaction margin dollars increased 44% year over year to $389 million, …