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this post was submitted on 11 Sep 2024
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Technology
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Google: $2.7 billion
Apple: $14.34 billion
Google 2024 Revenue: $328.28B
Apple 2024 Revenue: $385.60B
I'm sure they'll behave in the future thanks to these Big fines...
Revenue doesn't equal profit. Apple's 2023 net profit was 96b, so a 14b fine is a substantial portion of their overall profits (~15%).
Of course, they're not hurting by any stretch of the imagination, 82b is still a STUPID amount of money, but we should be getting the facts and numbers correct
Revenue doesn't equal profit but many companies are using multiple schemes to show that they are not profitable. So we also need to check the revenue. A company can just increase the CEO salary to eat up all the profit.