Newcastle have announced a profit of £5.1m in the six months leading up to January this year.
The figure is an increase of £4.5m from the previous six months.
The news is a welcome boost for the club, who are still reeling after the brawl involving Lee Bowyer and Kieron Dyer during the loss to Aston Villa.
"Our strong financial results will enable the club to continue to compete at the very highest levels," said Newcastle chairman Freddy Shepherd.
"Despite the current season being a period of transition, we are delighted to have achieved an FA Cup semi-final place and the quarter-finals of the UEFA Cup.
"Our supporters are our greatest asset and we are determined to work hard to deliver the success their support deserves."
Shepherd claimed, however, that the profit would have been greater had the Magpies not had to reach a settlement with sacked former manager Sir Bobby Robson.
Shepherd has a number of off-the-field ventures that have benefited the club, including a bar called Shearer's.
St James' Park has also been used for part of the filming for the Hollywood film Goal.
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