Technology & AI
Meta says it would’ve made over $22 billion if it didn’t have to pay a child safety settlement
Source: The Verge · Published
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 bill
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.
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