27 Jan 2012

Xero shares rise after revenue prediction

7:45 am on 27 January 2012

Shares in Xero rose more than 13% on Thursday after the company said it expects its full year revenue to double this year, as it boosts its customer numbers.

The online accounting software firm says it now has more than 60,000 paying customers, and more than $21 million of committed revenue a year, half of which comes from overseas.

It expects revenue in the year to the end of March to be double the $9.3 million it reported last year.

Xero's shares rose 34 cents to $2.89 on Thursday.