Net income
The total earnings of a business after tax and other deductions. Also called net earnings [Bateman, McAdam, p.137].
In general: the sum remaining after all expenses have been met or deducted.
Business: the difference between total sales and total costs and expenses [Friedman, p.470].
Net income reflects the total residual income that remains after accounting for all positive and negative cash flows. In other words, from revenue, which is called the top-line number, all income, expenses, and costs are deducted to arrive at net income. From the operating profit figure, debt expenses such as loan interest, taxes, and one-time entries for unusual expenses such as lawsuits or equipment purchases are all subtracted. All additional income from secondary operations or investments and one-time payments for things such as the sale of assets are added. Net income is arguably the most important financial metric, reflecting a company's ability to generate profit for owners and shareholders [Investopedia].
Friedman, Jack P. (2012). Dictionary of Business and Economics Terms (Barron's Business Dictionaries) (5 ed.). New York: Barron’s Educational Series.
Gross Profit, Operating Profit and Net Income. Investopedia. Retrieved from: https://www.investopedia.com/ask/answers/031015/what-difference-between-gross-profit-operating-profit-and-net-income.asp
Bateman, H., McAdam, K. (2003). Dictionary of Economics. London: A & C Black Publishers Ltd.