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English definition of “restate”

restate

verb [T]     /ˌriːˈsteɪt/
ACCOUNTING, FINANCE if a company restates its results, it calculates them again and announces a new amount for its profits, sales, etc.: The company will have to restate earnings , converting reported profits to losses. The automaker has restated results seven times in the past two years. They were later forced to restate millions in revenues.
restatement noun [C or U]
(Definition of restate verb from the Cambridge Business English Dictionary © Cambridge University Press)
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