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Their actual quarterly profit is 10% of what you claim, so the fine will wipe out a full year of profits. Your sarcasm is totally unwarranted.
by jsnell 4y ago
Their actual quarterly profit is 10% of what you claim, so the fine will wipe out a full year of profits. Your sarcasm is totally unwarranted.
- JumpCrisscross 4y ago> actual quarterly profit is 10% of what you claim "Profit" is an imprecise word. Criteo made $38mm of net income in the six months ending June 2022 [1], or $76mm annualized. €60mm is about is 80% of that. Free cash flow (FCF), on the other hand, was $77mm or $154mm annualized (40%). (OP referenced gross profit. Fines are no longer tax deductible [2][3]. Referencing a post-tax measure, like net income or FCF, is thus more appropriate than gross profit.) Either way, your broader point stands. Four fifths or two fifths or 12.5% of cash and cash equivalents, potentially a year, is nothing to sneeze at. [1] https://criteo.investorroom.com/2022-08-03-CRITEO-REPORTS-STRONG-SECOND-QUARTER-2022-RESULTS https://criteo.investorroom.com/2022-08-03-CRITEO-REPORTS-ST... [2] https://www.irs.gov/pub/irs-drop/td-9946.pdf https://www.irs.gov/pub/irs-drop/td-9946.pdf [3] https://www.journalofaccountancy.com/news/2021/jan/irs-regs-deductibility-of-fines-penalties.html https://www.journalofaccountancy.com/news/2021/jan/irs-regs-...
- eurasiantiger 4y agoI see a future where adtech companies operate under a franchising company owned by a holding company, just to avoid making any net profit for any of the individual companies actually handling someone’s data.
- dylan604 4y agoI think the fine needs to be 10x the amount of annual sales (not profits). It needs to be enough that causes these companies to go out of business. They are a cancer on our society, and they need to be eradicated. Most of the time, I'd be soft on people losing jobs, but these jobs 100% need to not exist.