Operating Earnings
Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue.
Investopedia Commentary
Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before interest and taxes). Analysts typically use operating earnings to judge the quality of a company's core business and forward prospects since it shows the relationship between sales, volume and costs.
Related Links
EBITDA: The Good, The Bad, And The Ugly
Everything You Need To Know About Earnings
Introduction to Fundamental Analysis
Advanced Financial Statement Analysis
See also: Cost of Goods Sold - COGS, Earnings, EBITD, EBITDA, EBITDAX, Expenses, Income Tax, Net Income, Revenue, Taxes