From Longman Business Dictionary
bytebyte /baɪt/ (also bite) noun [countableC] COMPUTING a unit of computer information that can hold one number or letter. A byte is made up of eight BITs (=the smallest units of storage on a computer). The amount of processing space on a computer is measured in MEGABYTEs (=a million bytes), so for example a PC with 32 megabytes of space has space for 32 million bytes of information