Business

COVID variant causes Southwest to lower hopes for 3Q profit

Southwest Airlines said Wednesday that it no longer expects to turn a profit in the third quarter as a surge in COVID-19 infections fueled by the highly contagious delta variant darkens the outlook for travel.

Business

Facebook profits top $10B as its CEO exalts the 'metaverse'

Concerns about a revenue growth slowdown pushed Facebook's shares lower in after-hours trading Wednesday, not long after the company reported that its second-quarter profits doubled thanks to a massive increase in advertising ...

Business

Cloud, business services lift Microsoft earnings

Microsoft on Tuesday reported a jump in profits in the recently ended quarter, keeping strong momentum from accelerated gains in cloud computing during the pandemic.

Business

3 tech giants report combined profits of more than $50B

Three tech companies—Apple, Microsoft and Google owner Alphabet—reported combined profits of more than $50 billion in the April-June quarter, underscoring their unparalleled influence and success at reshaping the way ...

Business

Apple profit nearly doubles as lockdowns eased

Apple said Tuesday its profit in the just-ended quarter nearly doubled amid improving consumer spending and a "growing sense of optimism" as pandemic lockdowns eased.

Business

Upbeat quarterly update lifts Twitter shares

Twitter on Thursday posted better-than-expected results for the recently ended quarter with gains in revenue, profit and its user base, sparking a rally in shares for the messaging platform.

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Revenue

In business, revenue or revenues is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. Some companies also receive revenue from interest, dividends or royalties paid to them by other companies. Revenue may refer to business income in general, or it may refer to the amount, in a monetary unit, received during a period of time, as in "Last year, Company X had revenue of $32 million."

In many countries, including the UK, revenue is referred to as turnover.

Profits or net income generally imply total revenue minus total expenses in a given period. In accounting and financial analysis, revenue is often referred to as the "top line" due to its position on the income statement at the very top. This is to be contrasted with the "bottom line" which denotes net income.

For non-profit organizations, annual revenue may be referred to as gross receipts. This revenue includes donations from individuals and corporations, support from government agencies, income from activities related to the organization's mission, and income from fundraising activities, membership dues, and financial investments such as stock shares in companies. For government, revenue includes gross proceeds from income taxes on companies and individuals, excise duties, customs duties, other taxes, sales of goods and services, dividends and interest.

In general usage, revenue is income received by an organization in the form of cash or cash equivalents. Sales revenue or revenues is income received from selling goods or services over a period of time. Tax revenue is income that a government receives from taxpayers.

In more formal usage, revenue is a calculation or estimation of periodic income based on a particular standard accounting practice or the rules established by a government or government agency. Two common accounting methods, cash basis accounting and accrual basis accounting, do not use the same process for measuring revenue. Corporations that offer shares for sale to the public are usually required by law to report revenue based on generally accepted accounting principles or International Financial Reporting Standards.

In a double-entry bookkeeping system, revenue accounts are general ledger accounts that are summarized periodically under the heading Revenue or Revenues on an income statement. Revenue account names describe the type of revenue, such as "Repair service revenue", "Rent revenue earned" or "Sales".

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