A more thorough explanation:

An earnings report is a financial statement that shows all the money a business earned and spent during a specific period. It includes revenue, expenses, gains, and losses. This report is also known as an income statement, profit-and-loss statement, or statement of income. It is different from a balance sheet, which shows a company's assets, liabilities, and equity at a specific point in time.

Example 1: A company releases its earnings report for the second quarter of the year. The report shows that the company earned $10 million in revenue and had $8 million in expenses, resulting in a net income of $2 million.

Example 2: A small business owner creates an earnings report for the past month. The report shows that the business earned $5,000 in revenue and had $3,000 in expenses, resulting in a net income of $2,000.

These examples illustrate how an earnings report provides a summary of a company's financial performance during a specific period. It shows how much money the company made and how much it spent, allowing investors and stakeholders to evaluate the company's profitability and financial health.