Buy now, pay later firm Klarna cuts losses in first half but fails to post profit
Publishing timestamp: 2023-08-31 14:16:09
Summary
Klarna, a Swedish buy now, pay later firm, reduced its losses by 67% in the first half of 2023 by cutting costs. Although the company did not report a profit for the period, it recorded a monthly profit in the first half, attributed to cost optimization and the use of artificial intelligence. Klarna's CEO hailed the company's profitability milestone and stated that it has a strong and resilient business model. The company also saw a decrease in credit losses and has been focusing on AI to improve its services. Klarna aims to achieve profitability on a monthly basis in the second half of 2023.
Sentiment: POSITIVE
Keywords: markets, technology, block inc, paypal holdings inc, fintech, affirm holdings inc, business news, breaking news: markets, breaking news: technology,