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XERO SUBS RISE 17 PERCENT IN NA Featured

The number of Xero subscribers in North America rose 17 percent to 251,000 for the first half ended September 30. The cloud software company this week also reported North American revenue reached about $20.8 million a 4-percent increase, a rise of 2 percent in constant currencies.

The decision to bundle Hubdoc with the business edition of Xero's accounting software package in March had more impact in North America than in other regions as the majority of Hubdoc users are on this continent. Overall, net income for New Zealand-based Xero ballooned to approximately $34.5 million for the most recently ended period from a not meaningful net a year earlier.  Revenue was about $298 million, an increase of 21 percent from last year’s corresponding period.  The total number of subscribers at the ended of the period was 2.543 million, an increase of 15.8 percent from Sept. 30, 2019.

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