Skip to Content

Australian Investment Blog

ASX:XRO 11/11/2021

Xero (XRO) shares stumble on weak 1H

XRO -6.22%: first half result for the accounting software business was a bit light on. They swung into a loss of $NZ5.9m vs a $NZ34.5m profit in 1H21, despite growing revenue 23% and gross margins expanding 1.4% to 87.1%. Earnings and cashflow were impacted by higher marketing and & development spend which are expected to subside in the second half. The result also came with a small acquisition, buying US based inventory management software business LOCATE for a mostly scrip deal worth $US19m. Another string to the Xero offering, however the result was a tad soft.

MM remains mildly bullish XRO
Add To Hit List
image description
Xero (XRO)
image description

Relevant suggested news and content from the site

Back to top