Gross Profit (Noun)
Meaning
(finance) the net sales minus the cost of goods and services sold.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company's gross profit was significantly higher last quarter due to reduced production costs.
- To calculate the gross profit, subtract the cost of goods sold from the net sales.
- The analyst studied the financial statement and noticed that the gross profit margin had been steadily increasing over the past year.
- After reviewing the financial reports, it became clear that the increase in gross profit was not due to higher sales but rather lower expenses.
- By optimizing their supply chain, the business was able to increase its gross profit and become more competitive in the market.