Liverpool have announced a profit after tax of £39m - just one year after recording overall losses of £21m, as reported by the Liverpool Echo.
The club have just made their accounts public, and they show a 20.5% rise in revenue for the financial year to May 31 2017, from £302m to £364m.
The club's media revenue stream went up by £30m to £154m thanks largely to the new Premier League TV deal, commercial rose to £136m - up by £20m - and matchday soared to £74m from £62m.
The increase in revenue on matchdays is in part down to the extra hospitality provided by the new Main Stand, and the figure might actually have been higher had the club been playing in a European competition.
The figures do make for encouraging reading given that the club announced overall losses of £21m last year.
Chief operating officer Andy Hughes said: "We are really happy and I think it reflects a continuation in the trend established since Fenway Sports Group's takeover in 2010.
"There's been a complete transformation financially. From being on the brink of bankruptcy, we've now seen seven years of consistent revenue growth. It's a significant turnaround.
"We have negotiated our financing deals multiple times and we have invested large amounts of money in the infrastructure of the club and the playing squad.
"We have improved profitability and created a healthy cash flow. With profits being reinvested back into the club and into players, long-term stability has become a reality."