The term profit refers to monies that are left over when revenue from a particular business activity is greater than the combined expenses/costs that are required to sustain the business over a given time period.
Profit belongs to the business owner(s) and may be reinvested in the business or not.
How to calculate profit: Profit = Total Revenue – Total Expenses
There are three different types of profit that can impact a business: Gross Profit, Operating Profit, Net Profit.
See also: Loss