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Afterpay annual loss halves as U.S. sales soar

Credit: REUTERS/Stephen Coates

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

Aug 27 (Reuters) - Australian buy now, pay later (BNPL) firm Afterpay Ltd APT.AX said on Thursday its full-year loss narrowed 54%, 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 A$19.8 million ($14.3 million) for the year ended June 30, compared with a loss of A$42.9 million a year earlier.

($1 = 1.3833 Australian dollars)

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

((Shashwat.Awasthi@thomsonreuters.com))

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