Official definition · 官方定义
“Revenue is the value of all sales of goods and services recognized by a company in a period.”[1]
— Corporate Finance Institute, CFI Resource Library · corporatefinanceinstitute.com ↗ · accessed 2026-10-25
Revenue is the money a company collects from selling goods or services, before any costs are subtracted. It is the top line: volume times price, recorded when the sale is made rather than when cash arrives.
营收是公司卖出商品或服务收到的钱，扣任何成本之前。它是「顶行」：销量乘以价格，按销售发生时确认，而不是按现金到账时确认。
Revenue is the first number to check and the easiest to dress up. Because it is recognised when control passes, a company can pull sales forward with discounts, or book multi-year contracts at once. That is why analysts look at revenue quality: recurring or one-off, cash-backed or accrued, and whether receivables are growing faster than sales.
营收是第一个要看、也最容易被修饰的数字。因为它在控制权转移时确认，公司可以用折扣提前拉销售，也可以把多年合同一次性入账。
所以分析师要看「收入质量」：是经常性还是一次性、有现金支撑还是挂账、应收账款是不是比销售涨得更快。
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| 5.9% | Pricier coats, fewer shoppers 营收 · 第 2 张术语卡 | Revenue rose 5.9% to 274 million Canadian dollars. 营收是「流进来的」，利润是「剩下的」。同一份财报里，营收涨 5.9%，营业亏损却扩大到 2,160 万加元——钱进来了，但花得更快。读财报的第一个动作，就是把这两个数并排看：收入在长，利润在不在长？如果只有收入长，那这段增长是买来的，不是赚来的。 |
| $16.3bn | American Airlines had record sales and still lost money 营收 · 第 1 张术语卡 | American's revenue was $16.3 billion, the best third quarter in its history. 营收创纪录、利润却是负的，这在航空、零售、汽车都很常见。看财报先分两行：上面是营收，下面是利润，中间隔着全部成本。 |
| 2% | PepsiCo to raise some prices after cuts failed to grow sales 营收 · 第 5 张术语卡 | PepsiCo’s North American food business posted a 2% decline in revenue in the quarter reported in July. 读懂财报只要记住一条链：营收 − 成本 = 利润。营收可以靠两条路做大——提价（同样多的货，卖更贵）或走量（更便宜，卖更多）。百事这次是提价路线；而 7 月那份财报是「营收 −2%、销量持平」，说明价和量都在拖后腿。英文里 revenue 常与 sales、top line（收入项，报表最上面一行）混用。 |
Revenue is cash received
It is recognised on delivery. Cash may arrive months later.
Revenue growth means the business is healthier
Check the margin and the receivables at the same time.
Gross revenue is what the company keeps
That is net revenue, after returns and discounts.
· revenue rose 8% to $Xbn
· like-for-like revenue
· deferred revenue
· top line
· revenue recognition
revenue rose 8% to $Xbn 营收增长 8% 至 X 亿美元；like-for-like revenue 同店营收；deferred revenue 递延收入；top line 顶行；revenue recognition 收入确认。
· revenue vs income (sales vs profit)
· gross vs net revenue
revenue 是销售额，income 是利润；gross revenue 含退货折扣，net revenue 已扣。
Revenue grew X% to $Ybn, ahead of the Z% consensus.
财报句：营收增长 X% 至 Y 亿美元，高于市场预期的 Z%——ahead of consensus 就是超预期。
“Revenue rose 5.9% to 274 million Canadian dollars.”
“American's revenue was $16.3 billion, the best third quarter in its history.”
“PepsiCo’s North American food business posted a 2% decline in revenue in the quarter reported in July.”