CLOUD SUBS DRIVE MYOB REVENUE

Tim Reed, MYOBIn its first report since going public again, Australian software company MYOB saw 65-percent growth in cloud subscriptions over the last year. MYOB made the statement in reporting results for its first half ended June 30. The company lost $46.2 million, a rise of 112.9 percent from the red ink for last year's corresponding period. Revenue for the most recently ended period was $114.3 million, an increase of 14.2 percent from a year earlier. MYOB pointed to important product introductions that included MYOB Advanced—which is Acumatica.

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