Comment on Instagram and Facebook are breaking the EU’s illegal content rules
FauxLiving@lemmy.world 3 days agoIt’s six percent of revenue, not 6% of profit.
Meta’s net profit margin is around 40%, so the fine would be around 15% of their yearly profits. That’s not insignificant.
On top of the fine for being in violation, they can be fined 5% of their daily profits every day until they’re in compliance.