Xero (ASX:XRO) share price hits record high after delivering strong first half growth // Motley Fool Australia

The Xero Limited (ASX: XRO) share price is charging higher following the release of its half year update.

In morning trade the cloud-based business and accounting platform provider’s shares are up almost 7% to a record high of $130.95.

How did Xero perform in the first half?

For the six months ended 30 September, Xero continued its positive form despite the challenging COVID-19 environment.

Management feels that this demonstrate the resilience of its global subscriber base and its proactive response supporting customers and partners.

During the half, the company’s operating revenue grew 21% over the prior corresponding period to NZ$409.8 million. This was a 19% increase in constant currency.

This led to Xero’s annualised…