Financial Terms / O - P / Profit and loss statement

Profit and loss statement

A profit and loss statement is a financial statement that shows a company's revenues, expenses, and profitability over a given period. It is also known as the income statement and emphasizes a company's profitability.

Along with the balance sheet and cash flow statement, it is one of the three primary financial statements used to evaluate a business's performance. Companies like those listed on public stock exchanges must release these core financial statements every quarter.