Meta says it would’ve made over $22 billion if it didn’t have to pay a child safety settlement
Meta had to shell out $9.89 billion to pay for a chunk of the child safety settlement it reached with US attorneys general. That's according to the company's third-quarter earnings report released on Wednesday, which says Meta's income from operations would have been $22.89 billion without the settlement. In August, Meta agreed to pay $17.1 billion...
Key Takeaways
- Meta had to shell out $9.89 billion to pay for a chunk of the child safety settlement it reached with US attorneys general.
- That's according to the company's third-quarter earnings report released on Wednesday, which says Meta's income from operations would have been $22.89 billion without the settlement.
- In August, Meta agreed to pay $17.1 billion to settle a massive nationwide lawsuit that claimed the company harmed children by making its social media platforms "addictive" by design.
Meta had to shell out $9.89 billion to pay for a chunk of the child safety settlement it reached with US attorneys general. That's according to the company's third-quarter earnings report released on Wednesday, which says Meta's income from operations would have been $22.89 billion without the settlement. In August, Meta agreed to pay $17.1 billion to settle a massive nationwide lawsuit that claimed the company harmed children by making its social media platforms "addictive" by design. It will also only pay $5.3 billion of this amount if YouTube and TikTok implement stricter settings and safeguards for kids, which Meta also agreed to as par … Read the full story at The Verge.
Original Publisher Attribution
This summary was curated from The Verge.