Klarna swings to $3 million adjusted profit in Q1

Swedish fintech Klarna, which last month paused plans for an initial public offering, reported a first-quarter adjusted profit of $3 million on Monday, lifted by growing volumes in the United States and efficiency gains from artificial intelligence. Klarna's comparable result for the January-March period of 2024 stood at a loss of $2 million when adjusting for the sale of its Klarna Checkout (KCO) business. In the United States alone, revenue grew 33% year-on-year, Klarna said.