The club revealed on their website that this figure is up by almost 50% from a year earlier when total profits were ??9.9m.
The results signal a fourth consecutive year of record profits, with commercial revenue playing a greater role in the increase.
A statement on the website reads: ???Operational losses of ??0.6m in 2013 have been turned into an operating profit of ??4.7m as the club continues to outperform UEFA Financial Fair Play regulations.
???The club’s turnover rose to ??129.7m, up from ??95.9m the previous year. Matchday revenue, which includes ticket sales and hospitality, dropped slightly to ??25.9m, down from ??27.8m in 2013, when the club hosted seven additional home games as a result of its participation in the UEFA Europa League.
???Season ticket renewal figures held steady, as did average Premier League attendances, which were 50,395 compared to 50,517 the previous season.
???Most significantly, the club reported strong commercial revenue growth delivering ??25.6m in 2014, up from ??17.1m in 2013.???
Newcastle United managing director Lee Charnley said: “I am pleased to report a positive set of results which confirms the healthy financial position the club now finds itself in and is a reflection of the prudent and measured manner in which we operate.
“The club benefits from a supportive owner and is financially stable. This gives us a strong platform from which to grow, both on and off the pitch, a result of which means, as we move forward, we are able to net spend on the playing squad and invest in other areas of the business.
“The most pleasing aspect in this set of accounts has been the growth in our commercial revenue and it has been our strongest year yet in that respect.
“With our commitment to keeping ticket prices affordable for our supporters growing our commercial income has been crucial.
“We believe financial stability will deliver positive on-field results for the club.”