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Xero Subs Rise 22.1% in North America

Xero saw subscriptions for its cloud accounting products r0se by 22.1 percent for the first half ended September 30. The New Zealand-based company also talked broadly of plans to expand on this continent in its recent earnings report.

The number of subscribers reached 308,000. Revenue for this North America rose to about $23 million for the most recently ended period.  CEO Steve Vamos said the company will use partnerships and acquisitions for expansion on this continent.

Xero’s revenue was approximately $372.8 million for the half, an increase of 23 percent with subscriber rising the same percentage to 3,013,000 from 2,453,000 subscribers.

In the United Kingdom, subscriptions rose 23 percent into 785,000 from 638, 000.  Growth was nearly as fast in Australia where there were 1,239,000 customers at the end of the half, an increase of 22 percent from 1,014,000.

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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