Revenues is the gross amount earned from selling goods or providing services during the period shown in the heading of the income statement. In other words, revenues is the amount earned before deducting the cost of goods sold, expenses, and losses.
Earnings is the net amount earned after deducting the cost of goods sold, expenses and losses. It is often presented as net earnings or net income. When a corporation's stock is publicly-traded, the earnings must also be reported on the income statement as earnings per share (EPS) of common stock.
Learn Bookkeeping: Gain unlimited access to our bookkeeping seminar videos, bookkeeping proficiency exams, bookkeeping cheat sheet, visual tutorials, and more when you upgrade to PRO.