Menu
Xero boosts revenue, profit remains elusive

Xero boosts revenue, profit remains elusive

Xero has reported a tripling of its income from subscriptions to its hosted accounting software in its results for the year to March 31, released today.

In a statement to the NZ Stock Exchange, Xero announced that revenue from subscriptions was up 229 per cent to $3.158 million, compared with $959,000 for the previous year.

Customer numbers rose from 6,000 to more than 17,000.

However, the increased revenue didn’t translate into a profit, with Xero recording a net loss before tax of $8.4 million, compared with one of $6.75 million the previous year.

Much of the increased loss was due to extra staff being taken on during the 2010 year; Expenses relating to suppliers and employees were $12.8 million, compared with $8.3 million the year before.

Read more at Computerworld.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags xero

Featured

Slideshows

Reseller News Innovation Awards 2018: meet the top performing partners

Reseller News Innovation Awards 2018: meet the top performing partners

Reseller News honoured the industry’s finest on a standout evening for the New Zealand channel, recognising the achievements of established partners, emerging players and innovative start-ups, in front of over 460 technology leaders in Auckland.

Reseller News Innovation Awards 2018: meet the top performing partners
Champagne Reception kicks off Reseller News Innovation Awards 2018

Champagne Reception kicks off Reseller News Innovation Awards 2018

More than 460 channel leaders came together to toast the top performers of the New Zealand industry, during the opening Champagne Reception at the Reseller News Innovation Awards 2018 - in association with Techbuyer.

Champagne Reception kicks off Reseller News Innovation Awards 2018
Chasing innovation: how Kiwi partners can create a new customer agenda

Chasing innovation: how Kiwi partners can create a new customer agenda

This exclusive Reseller News Roundtable - in association with Rhipe and Microsoft - detailed a blueprint for customer success, outlining the new role of the modern-day partner and wider network in New Zealand.

Chasing innovation: how Kiwi partners can create a new customer agenda
Show Comments