UPDATE: Xero shares rise 6% as higher revenue brings maiden profit in sight

Thu, 11 May 2017

(Recasts adding CEO comments, updates share price) By Rebecca Howard May 11 (BusinessDesk) - Xero shares climbed 6 percent as the cloud-based accounting software firm moves closer to its first ever profit as customer numbers continue to swell and its 2017 full-year net loss narrowed as revenue grew. The Wellington-based company said operating revenue was $295.4 million in the 12 months ended March 31, up 43 percent on the year earlier, or up 51 percent in constant currency terms. Its net loss was $69.1 million, 16 percent narrower tha...

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