Xero hits record high, Telstra and Wesfarmers updates impress // Motley Fool Australia

At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is fighting hard to maintain its winning run but has fallen just short. The benchmark index is currently down 0.1% to 6,443 points.

Here’s what has been happening on the market today:

Xero’s strong growth continues.

The Xero Limited (ASX: XRO) share price raced to a record high this morning following the release of its half year results. For the six months ended 30 September, the cloud-based business and accounting software platform provider delivered a 21% increase in operating revenue to NZ$409.8 million. This was driven by a 19% increase in total subscribers to 2.45 million. On the bottom line, Xero’s net profit after tax came in 26 times greater than the prior…