this post was submitted on 27 Aug 2024
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Microblog Memes

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submitted 2 months ago by homesweethomeMrL@lemmy.world to c/microblogmemes@lemmy.world
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[–] kfoo@lemmy.world 25 points 2 months ago (1 children)

MM is a common abbreviation for millions in finance and accounting. Not usually used colloquially, but it’s not wrong.

[–] aniki@lemmings.world 12 points 2 months ago (2 children)

M is roman numerals for thousands, so MM is a thousand thousands = million.

[–] Bertuccio@lemmy.world 7 points 2 months ago* (last edited 2 months ago) (1 children)

If it were Roman numerals that would be two thousand for the same reason II is two ones...

[–] aniki@lemmings.world 6 points 2 months ago (1 children)

I'm not a finance bro, just pointing out where it comes from.

https://corporatefinanceinstitute.com/resources/fixed-income/mm-millions/

In finance and accounting, MM (or lowercase “mm”) commonly denotes that the units of figures presented are in millions. The Roman numeral M denotes thousands. In this context, MM is the same as writing “M multiplied by M,” which is equal to “1,000 times 1,000,” which equals 1,000,000 (one million).

While Roman numerals are technically additive (MM is really 1,000 plus 1,000 or 2,000), MM is still a fairly common way of abbreviating millions, especially in certain industries like oil and gas. This guide will explore how the notation should be used, as well as alternative symbols that are used in practice.

[–] Hadriscus@lemm.ee 4 points 2 months ago

I think this says that IF MM is to be interpreted as roman numerals, then MM is additive and means two thousand, whereas IF MM is to be interpreted as the ad hoc finance unit, then it denotes millions

[–] formergijoe@lemmy.world 1 points 2 months ago

M also denotes the metric prefix Mega, which means a million of something.