Xero plumps bottom line as subscriber growth slows

Thu, 12 Nov 2020

Xero's bottom line profit jumped dramatically even as subscriber growth slowed in the six months ended September.The accounting software company said net profit for the six months jumped to $34.5 million from $1.3 million in the previous first half.While total subscriber numbers rose 19 percent to 2.45 million, the pace of growth slowed with 168,000 new subscribers in the six months, down from the 239,000 it added in the year-earlier period.Revenue was up 21 percent to $409.8 million, earnings before interest, tax, depreciation and amortisa...

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