UPDATE: Xero posts small net profit as customers pass 2 million

By Jenny Ruth | Thu, 07 Nov 2019


(Updates first and second pars to add share price reaction) Xero shares jumped more than 6.6 percent after it announced better-than-expected first-half results including a small net profit, positive cash flow and a 30 percent jump in subscriber numbers to more than two million. Xero shares, which trade only on the ASX, rose as high as a record A$71.98 from A$67.50 yesterday before easing to A$71.65. The shares are more than 70 percent higher than a year ago. The accounting software company reported a $1.3 million net profit for the six...