is net income the same as profit 
net income and profit are both business terms that refer to the excess of income over expenses however there is a difference net income is the difference between a company s total revenues and all expenses including overhead and operational costs taxes depreciation and amortization of assets and any other expenses profit refers to the revenue that remains after some expenses there are several different calculations for profitability such as gross profit and operational profit each of which has a separate importance to analysts the bottom lineincome is one of the most basic measures of economic activity for individuals and companies it measures the net gain of their revenues as a result of working or doing business in public policy income represents the basis for most forms of taxation 