In information theory, a bit per second (b/s) is a unit used to express the number of bits passing a designated point per second. See also telecommunication.
Note 1: For example, for two-condition serial transmission in a single channel in which each significant condition represents a bit, i.e., a 0 or a 1, the bit rate in bits per second and the baud have the same numerical value only if each bit occurs in a unit interval. In this case, the data signaling rate in bits per second is 1/T, where T is the unit interval.
Note 2: The abbreviation "bps" is not in accordance with international standards, and is therefore deprecated.
Note 3: kB/s (with capitalized B) means "kilobyte per second."
A megabit per second is equal to 1,048,576 (220) bits per second.
Source: from Federal Standard 1037C and from MIL-STD-188