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.