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Afterpay annual loss halves as US sales soar

Afterpay annual loss halves as US sales soar

FILE PHOTO: A logo for the company Afterpay is seen in a store window in Sydney, Australia, July 9, 2020. REUTERS/Stephen Coates/File Photo GLOBAL BUSINESS WEEK AHEAD

REUTERS: Australian buy now, pay later (BNPL) firm Afterpay Ltd said on Thursday its full-year loss narrowed 54per cent, as sales in the United States sky-rocketed due to the popularity of alternative credit firms during the COVID-19 pandemic.

The world's most valuable BNPL company reported a loss attributable to shareholders of AUS$19.8 million (US$14.3 million) for the year ended June 30, compared with a loss of AUS$42.9 million a year earlier.

(Reporting by Shashwat Awasthi and Nikhil Kurian Nainan in Bengaluru; Editing by Shounak Dasgupta)

Source: Reuters

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