CORRECT: Xero 3Q cash burn accelerates for a second quarter

Sun, 02 Nov 2014

(Recasts headline, lede and 2nd graph after fixing incorrect cashflow comparisons in story that ran on Friday Oct. 31) By Suze Metherell Oct. 31 (BusinessDesk) - Xero, the cloud-based accounting firm, accelerated its quarterly cash burn in the September quarter from the June period as marketing spend and fit-out costs rise. Net operating and investing cash outflow was $22.6 million in the three months ended Sept. 30, compared to an outflow of $17.3 million in the June quarter as the software developer ramped up its spending on advertis...

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