Liverpool have announced a pre-tax profit of 7.5m for the 2021-22 season as the Premier League club's overall revenue rose by 107m to 594m.
During the 2021-22 campaign the Reds played in all 63 club games possible as they won the FA Cup and Carabao Cup.
They have recorded a profit for the first time since 2018-19, despite a 69m increase in administrative costs.
However, matchday revenue rose by 83m to 86m, as supporters returned following the coronavirus pandemic.
"Some of the numbers in these latest accounts look slightly skewed as a result of the previous reporting period being impacted by the global pandemic," managing director Andy Hughes said.
"However, the underlying strength of our financial position remains strong and we continue to operate a sustainable club, which is our main objective from a financial perspective," he added.
While commercial revenue rose by 29m to 247m, the club also said annual operating costs for Anfield had increased by nearly 40% over the past five years.
"The cost of running a football club does continue to rise but we maintain our position of growing this club with significant investment with new and existing players signing contracts and the construction of the new Anfield Road Stand, which we look forward to coming on stream in the summer," Hughes said.
"In the last five years we have invested over 250m in infrastructure and created world-class facilities for our players, staff and supporters," he added.
"What's important now is to finish this season as strong as possible, both on and off the pitch, while we continue to manage costs and explore opportunities for growth in our commercial operations so we can continue to reinvest revenues in players and infrastructure."