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Xero North American Subs up 17 Percent

Xero had 251,000 subscribers in North America when the first half ended on June 30, the cloud software company said this month. That was an increase of 17 percent over a year earlier and compared to a 15.8-percent increase in subscriptions worldwide.

The total number of subscribers at the end of the first half was 2.543 million.

North American revenue reached roughly $20.8 million for the most recently ended period. a 4-percent increase, a rise of 2 percent in constant currencies. That reflected the bundled of Hubdoc with the Xero business edition in March. The move had more impact in North America than in other regions as the majority of Hubdoc users are on this continent.

Net income for New Zealand-based Xero jump approximately $34.5 million for the most recently ended period from a not meaningful amount a year earlier.  Revenue was about $298 million, an increase of 21 percent from last year’s corresponding period.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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