{"id":1628256,"date":"2022-08-31T12:20:14","date_gmt":"2022-08-31T16:20:14","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1628256"},"modified":"2022-08-31T12:20:23","modified_gmt":"2022-08-31T16:20:23","slug":"klarnas-half-yearly-operating-loss-rises","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/klarnas-half-yearly-operating-loss-rises\/","title":{"rendered":"Klarna\u2019s half yearly operating loss rises"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fklarnas-half-yearly-operating-loss-rises%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1628256&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>STOCKHOLM (Reuters) \u2013     Swedish payments company Klarna said on Wednesday its half-yearly operating loss more than tripled weighed down by an increase in employee costs, higher credit losses and continued investment in market expansion.<\/p>\n<p>The operating result for the first half of the year was a loss of 6.17 billion Swedish crowns ($578.52 million) compared with 1.76 billion crowns in the year-earlier period.<\/p>\n<p>Total credit losses rose to 2.85 billion crowns from 1.85 billion crowns a year earlier.<\/p>\n<p>Known for its \u201cbuy now, pay later\u201d (BNPL) services, Klarna grew fast during the pandemic but since the start of the year rampant inflation and the war in Ukraine had worsened business sentiment.<\/p>\n<p>The Swedish company laid off about 10% of its workforce in May and last month raised $800 million of funds at a valuation of $6.7 billion, down around 85% from the $46 billion price-tag it attracted last year.<\/p>\n<p>\u201cWe have had a few years now where growth has been really heavily prioritised by investors,\u201d Chief Executive Sebastian Siemiatkowski said in a statement. \u201cNow, understandably, they want to see profitability.\u201d<\/p>\n<p>Klarna said it has revisited its 2022 plans and will implement a number of prudent and preemptive measures to meet the evolving challenges. <\/p>\n<p>The company\u2019s revenue grew 24% to 9.1 billion crowns and gross merchandise value (GMV) was up 21% to 396 billion.    <\/p>\n<p>However, total operating expenses before credit losses also rose to 10.81 billion crowns from 6.26 billion crowns. <\/p>\n<p>Klarna, which has 150 million consumers on its platform across 45 markets, counts Germany, the United States and Sweden among its top markets.  <\/p>\n<p>($1 = 10.6651 Swedish crowns)<\/p>\n<p> (Reporting by Supantha Mukherjee in Stockholm, Editing by Louise Heavens)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2743467\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7U0BF-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7U0BF-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>STOCKHOLM (Reuters) \u2013 Swedish payments company Klarna said on Wednesday its half-yearly operating loss more than tripled weighed down by an increase in employee costs, higher credit losses and continued<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1628256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1628256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1628256"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1628256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1628256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1628256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1628256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}