Is latency the time it takes to get the first byte?

Question

If I request an image from a server, would latency be the time it takes to receive the first byte of the image?

Answer 1

Wikipedia explains it rather well

Latency in a packet-switched network is measured either one-way (the time from the source sending a packet to the destination receiving it), or round-trip (the one-way latency from source to destination plus the one-way latency from the destination back to the source). Round-trip latency is more often quoted, because it can be measured from a single point. Note that round trip latency excludes the amount of time that a destination system spends processing the packet.

Answer 2

The round-trip for the request and the first network packet in the response actually.