Business

India IT giant TCS sees profits jump on pandemic demand

India's largest software exporter Tata Consultancy Services saw its quarterly profits climb more than seven percent Friday, citing strong demand for its cloud services as the pandemic boosts remote working.

Business

Tencent Q3 revenue climbs 29 percent

Chinese internet giant Tencent said Thursday its revenue climbed 29 percent in the third quarter of this year, spurred by gaming and advertising as coronavirus lockdowns keep users indoors and online.

Automotive

Toyota ramps up full-year forecasts as sales recover

Toyota on Friday almost doubled its full-year forecasts, saying sales and production were recovering quickly from the coronavirus pandemic, which has shredded the global auto market this year.

Business

British Airways parent IAG logs vast loss on virus

IAG, the owner of British Airways and Spanish carrier Iberia, dived into a net loss of 1.76 billion euros ($2.1 billion) in the third quarter on coronavirus fallout, it said Friday.

Business

Nokia doubles profit, pledges 'to win' at 5G

Finnish telecoms equipment maker Nokia more than doubled its profits in the third quarter as its new chief executive promised on Thursday to do "whatever it takes" to become the 5G market leader.

Automotive

Fiat Chrysler returns to profit

Italian-American auto giant Fiat Chrysler said Wednesday it returned to profit in the third quarter, doing better than expected as the market recovered from a massive downturn sparked by the coronavirus pandemic.

Business

Sony first-half net profit doubles, forecast revised up

Sony on Wednesday said net profit doubled in the April-September period and revised up its full-year forecast, citing growth in key sectors including gaming, which has been boosted by coronavirus lockdowns worldwide.

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Net profit

In business and finance accounting, net profit is equal to the gross profit minus overheads minus interest payable plus/minus one off items for a given time period (usually: accounting period).

A common synonym for "net profit" when discussing financial statements (which include a balance sheet and an income statement) is the bottom line. This term results from the traditional appearance of an income statement which shows all allocated revenues and expenses over a specified time period with the resulting summation on the bottom line of the report.

In simplistic terms, net profit is the money left over after paying all the expenses of an endeavor. In practice this can get very complex in large organizations or endeavors. The bookkeeper or accountant must itemise and allocate revenues and expenses properly to the specific working scope and context in which the term is applied.

Definitions of the term can however vary between the UK and US. In the US, net profit is often associated with net income or profit after tax (see table below).

The net margin percentage is a related ratio. This figure is calculated by dividing net profit by turnover, and it represents profitability, as a percentage.

This text uses material from Wikipedia, licensed under CC BY-SA