Klarna Enables Instant P2P Payments in 13 European Markets; Forecasts $1.07B Sales
Klarna has enabled instant peer-to-peer payments in 13 European countries through its app, extending its in-app payment solutions beyond in-store purchases. It posted a 26% gain in third-quarter revenue, forecasted $1.07 billion in current-quarter sales and reported a $95 million net loss due to its transition to U.S. accounting standards.
1. Launch of Instant P2P Payments
Klarna has rolled out instant peer-to-peer payments in 13 European countries through its mobile app, allowing users to send funds directly to friends and family and expanding its in-app payment functionality beyond retail transactions.
2. Q3 Financial Performance
In its first quarterly report as a public company, Klarna posted a 26% increase in third-quarter revenue and projected $1.07 billion in sales for the current quarter, driven by growth in U.S. markets.
3. Accounting Transition and Net Loss
The company recorded a net loss of $95 million, compared with a $12 million profit last year, primarily due to adopting U.S. accounting standards following its New York listing.