Covid-19 slows Xero's subscriber growth dramatically

Thu, 13 Aug 2020

Xero's subscriber growth has slowed markedly in the first four months of its current financial year as the coronavirus took hold. The company's net subscriber growth in the four months ended July 31 was 96,000, taking total subscribers to 2.38 million, chief executive Steve Vamos told the annual shareholders' meeting, which was held virtually because of the virus. That compares with the 228,000 net increase in subscribers in the six months ended March, and the 239,000 in the six months ended September 2019. "The distribution of Xero's...

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