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Xero results gives something for ‘bulls and bears’

Xero’s free cash flow – cash left over after operating and capital expenses – more than tripled over the past year, beating market expectations by 133%.

Xero chief executive Sukhinder Singh Cassidy.

Dan Purves Thu, 23 May 2024
Key points
  • Revenue: Up 22% to $1.71 billion.
  • Profit: Up 254% to $175 million.
  • Key takeaway: Xero beat market expectations across a range of key metrics, but some analysts have questioned its future growth and whether it will meet its self imposed goals. 

Xero, the ASX-listed but New Zealand–based technology company that provides cloud-based accounting software for small businesses, has surprised the market by achieving its ‘Rule of 40’ goal this year, delivering a combined sales growth and profit margin of 41%.

It has also performed well on

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Dan Purves Thu, 23 May 2024
Contact the Writer: dpurves@nbr.co.nz
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Key points
  • Revenue: Up 22% to $1.71 billion.
  • Profit: Up 254% to $175 million.
  • Key takeaway: Xero beat market expectations across a range of key metrics, but some analysts have questioned its future growth and whether it will meet its self imposed goals. 
Company profile
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Change:
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Xero results gives something for ‘bulls and bears’
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