4 ms·
TMobile fined $60M for unauthorized access to data: the largest fine of its type
- maccard 2y agoOn $43bn profit in 2021 (when this happened), or 0.1% of their profit. I'm sure they're crying.
- nicce 2y agoWhat, is that really profit and not revenue? Anyway, add the sum to calculated risk to do profits by reducing effort to do or use quality software and systems.
- paulddraper 2y agoIt is indeed profit. They have a ~50% profit margin.
- switch007 2y agoIt is indeed not
- MarkSweep 2y agoTheir 2023 annual report does report an “adjusted EBITDA margin” of 47% for 2023. But their net income margin is 13%. They are borrowing money to upgrade their network for each new technology, so I think it’s fair to include depreciation and interest when measuring the profitability of their business.
- ssttoo 2y agoCost of doing business. I wonder if it’s tax-deductible.
- MarkSweep 2y agoI don’t think that number is correct. T-Mobile’s net income in 2021 was $3.024 billion. I think you might be confusing the first number on the page (postpaid revenue of $42.562 billion) for profit. See page 45 of https://s29.q4cdn.com/310188824/files/doc_financials/2021/ar/TMUS-2021-Annual-Report.pdf https://s29.q4cdn.com/310188824/files/doc_financials/2021/ar... You point still stands, the $60 million fine is 2% of their net income.
- maccard 2y agoYou're right thanks!
- switch007 2y ago$43bn profit lol! Come on
- maccard 2y agoIndeed. Misread the doc, and I’d had two beers when I posted. Unfortunately I can’t edit it now.
- CatWChainsaw 2y agoWish that M was a B, then it would actually hurt.
- rychco 2y agoStill falls pathetically short of what it should be.
- paulddraper 2y agoWhat should it be?
- xanthor 2y agoCEO loses the tip of his pinky
- MaxikCZ 2y agoYou know the conversation went like: "You can give us 600M fine and we will pay it, or you can give us 60M fine and we will forward another 20M to you."
- wmf 2y agoOriginal source: https://www.reuters.com/business/media-telecom/us-committee-slaps-60-million-fine-t-mobile-over-unauthorized-data-access-2024-08-14/ https://www.reuters.com/business/media-telecom/us-committee-...
- anvil-on-my-toe 2y agoHow does that compare to the CEO's annual comp?
- ssahoo 2y agoIt will work only if it's paid from upper managements paycheck. They must have signed off this as their acceptance during risk assessment, if not they should take this as lesson to do more evaluation in the future.
- deleted 2y ago[deleted]