BUZZ-Australia's Xero hits record high on robust HY results

Reuters
14 Nov 2024
BUZZ-Australia's Xero hits record high on robust HY results

** Shares of Xero Ltd XRO.AX soar as much as 5.7% to A$170.79, hitting an all-time high

** The accounting service provider is set to trade higher for the ninth straight session; if gains hold

** Company posts a 76% jump in HY net profit after tax of NZ$95.1 million ($55.91 million)

** Company reports 25% higher operating revenue during the HY to NZ$995.9 mln due to growth in average revenue per user and subscriber growth

** Stock set to see best day since late May, as of 2322 GMT

** Including day's moves, stock has risen 50.9% this year

($1 = 1.7010 New Zealand dollars)

(Reporting by Archishma Iyer)

((Archishma.Iyer@thomsonreuters.com;))

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