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The fines are obviously not intended to bankrupt them. Amazon had $7.8 billions in profit this quarter, 10% of that should hurt badly enough to course correc
by ndr 5y ago
The fines are obviously not intended to bankrupt them.
Amazon had $7.8 billions in profit this quarter, 10% of that should hurt badly enough to course correct, shouldn't it?
- saddlerustle 5y agoIt's worse than that. Almost all of Amazon's profit comes from AWS and its US business, but this fine is entirely a cost due to its retail business in the EU. The operating income of Amazon's international retail business in 2020 was just $700m, it makes their entire European business last year overall unprofitable.
- adwn 5y ago> It's worse than that [...] it makes their entire European business last year overall unprofitable How's that a bad thing under the assumption that they behaved in an illegal way? Fines are supposed to hurt, and this fine won't bankrupt Amazon.
- AnssiH 5y agoI believe they meant the fines were worse for Amazon than their parent made it sound, not that the fines itself were a bad thing.
- denton-scratch 5y agoEver heard of transfer pricing? [Edit] I think I was rightly downvoted for being snarky. I'll try to remember not to snark.