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Klarna posts Q2 profit, revenue growth, trims volume outlook
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The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational. STOCKHOLM, Aug 18 (Reuters) - Klarna (KLAR) stock fell 19% before the bell on Tuesday after the the Swedish "buy now, pay later" services provider and online bank, trimmed its full-year GMV to between $149 billion and $151 billion, from greater than $155 billion seen previously, citing "a more measured view of primarily German volumes, our largest market by volume." The company posted a profit in the second quarter while analysts had expected a net loss, helped by growth in its U.S. markets. The company said its quarterly net profit was $9 million compared with a loss of $53 million in the year-earlier period, ahead of expectations of a loss of $17.4 million. Adjusted operating income was $91 million versus $29 million a year ago, it added. Klarna's April-June revenue grew 27% to $1.04 billion, beating expectations of $993.8 million. Its gross merchandise volume (GMV), a metric for measuring sales, rose 18% to $36.6 billion in the quarter. GMV in the U.S. rose 27%. (Reporting by Supantha Mukherjee in Stockholm, editing by Terje Solsvik)
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