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That headline can't be correct. Income is revenues minus expenses (and a few other things). You can't have both an income and a loss at the same time. It's $4.
by otterley 1y ago
That headline can't be correct. Income is revenues minus expenses (and a few other things). You can't have both an income and a loss at the same time.
It's $4.3B in revenue.
- croes 1y agoEvery indebted person can tell you that you can have an income and loss at the same time. Income is revenue.
- otterley 1y agoWe’re talking about a business here. Accounting terms are standard across the industry, and the meaning of income is well understood. Unfortunately, journalistic standards vary across the Internet. The WSJ or Financial Times would not make such a mistake.
- Aperocky 1y agoThat's net income.
- rsynnott 1y agoYeah, I initially thought maybe they were talking about _gross_ income, but, nah, it’s just revenue.
- sotix 1y agoI can only speak as a US CPA, but revenue and income are used interchangeably. You're thinking of net income or profit. It's certainly preferable to use the term revenue instead of income in my opinion however to avoid misunderstandings like this.
- otterley 1y agoI think that's a tax thing (where revenues are treated as "income" for taxation purposes), not a financial accounting thing.