“This time around, the AP said that the 824.9 million euro fine was calculated as the maximum penalty that’s derived from four percent of a company’s worldwide annual turnover.”
Annual turnover is revenue, so top line money, before taxes, expenses, etc. They profited a little over $10 billion last year, so a nearly $1 billion fine is a little less than 10% of their profit.
I wouldn’t call it insignificant - as a percentage of profit, it’s not bad. But when we’re talking about billions, it’s still probably not enough to get them to stop.
From the article:
“This time around, the AP said that the 824.9 million euro fine was calculated as the maximum penalty that’s derived from four percent of a company’s worldwide annual turnover.”
Annual turnover is revenue, so top line money, before taxes, expenses, etc. They profited a little over $10 billion last year, so a nearly $1 billion fine is a little less than 10% of their profit.
I wouldn’t call it insignificant - as a percentage of profit, it’s not bad. But when we’re talking about billions, it’s still probably not enough to get them to stop.