Net income is essentially the same as net profit — it is the total earnings left after subtracting all costs, expenses, interest, and taxes from revenue. The terms are often used interchangeably.
Net income appears at the bottom of the income statement (hence "bottom line"). It flows into retained earnings on the balance sheet and is the basis for calculating earnings per share (EPS).
For example, if a company reports net income of $10 million and has 5 million shares outstanding, its EPS is $2.00. Investors use this number to compare profitability across companies.