UPDATE: Xero annual loss widens as it ramps up investment for future growth

Fri, 24 Apr 2015

(Adds investor comment starting in ninth paragraph, updates stock) By Tina Morrison April 24 (BusinessDesk) - Xero, the cloud-based accounting software firm, said its annual loss widened even as sales rose, after it increased investment in product development, sales and marketing for future growth. The net loss expanded to $69.5 million, or 55 cents per share, in the year ended March 31, from $35.5 million, or 29 cents, in the year earlier period, Wellington-based Xero said in a statement. Revenue increased 78 percent to $127.2 million...

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