Xero narrows 1H loss as revenue rises, says it's well positioned to breakeven

Xero narrows 1H loss as revenue rises, says it's well positioned to breakeven
Jonathan Underhill
By Sophie Boot Nov. 3 (BusinessDesk) - Xero, the cloud-based accounting software firm, narrowed its first-half loss for 2016 as revenue lifted 48 percent, with its cash burn continuing to slow. The Wellington-based company said its net loss was $43.9 million in the six months ended Sept. 30, from a loss of $44.3 million a year earlier. Operating revenue rose to $137.2 million from $92.9 million, with operating and investing cash outflows down 7.5 percent to $45.8 million.  Xero has $137.9 million cash and short-term deposits on hand, a...