Xero (ASX:XRO) passes the 2 million subscriber mark

Company News

by Rachael Jones

Cloud accounting software company Xero (ASX:XRO) has passed the 2 million subscriber milestone and reports 32% per cent operating revenue growth.

UK subscribers grew by 51 per cent compared to the same period last year.

Net profit after tax increased by $29.9 million NZD to $1.3 million NZD.

EBITDA excluding impairments of $65.9 million NZD almost doubled from $34.5 million NZD in H1 FY19.

Shares in Xero (ASX:XRO) are trading 6.4 per cent higher to $71.79.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.