Klarna’s PriceRunner unit took Google to court in 2022, claiming the tech giant was pushing its own price-comparison service to the top of search results while burying rivals. On Wednesday, the Patent and Market Court in Stockholm agreed — at least in part.
The Swedish court ruled in PriceRunner’s favor on part of the claim and awarded $1.97 billion in damages and interest. Other parts of the claim were dismissed. Klarna had originally been seeking $8.3 billion.
KLAR was trading up around 11% in premarket Wednesday. Google (GOOGL) was barely moved, up slightly on the day.
Klarna said the award compensates PriceRunner for lost revenue caused by Google’s practices. The company also argued that the behavior hurt consumers by pushing up costs.
“This ruling supports a healthier, more competitive market for the way people compare products and services — and that is good for everyone who shops,” said Dan Greaves, Klarna’s head of communications and policy.
Google pushed back on the decision. “We don’t agree with the court’s decision, we are reviewing and will consider our legal options,” a spokesperson said.
The company added that it made changes to its shopping ads back in 2017 that it says have driven growth for comparison-shopping services across Europe.
PriceRunner isn’t just a legacy acquisition — it’s become a core part of how Klarna operates. The service covers more than 100 million products and over 500 million merchant listings across 13 markets.
Klarna says PriceRunner drives traffic to its retail partners, making it a direct revenue contributor rather than a standalone tool.
More recently, PriceRunner’s product database became the engine behind Klarna’s shopping search feature inside ChatGPT. That integration is what Klarna is calling a key part of its “agentic commerce strategy” — the idea that AI assistants will handle more of the product discovery and buying process.
The $1.97 billion figure isn’t necessarily final. Klarna acknowledged that the award could still change if Google decides to appeal the ruling.
Google’s legal team is currently reviewing the decision, and an appeal through Sweden’s higher courts remains an option.
On Wall Street, analysts currently rate KLAR a Moderate Buy — six Buys and six Holds over the past three months. The average price target sits at $20.80, which at the time of the ruling implied about 3% upside.
The case was first filed in 2022 and went to trial in October 2025.
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