Financial Terms / I - J / Income statement

Income statement

An income statement is a financial statement that shows a company's revenues, expenses, and profitability over a given period. It is also known as a P&L 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.