Brisbane Times
·general
·2 hours ago
Meta’s Australian cash machine: $1.5 billion shipped offshore
Meta's Australian subsidiary, Facebook Australia, generated $1.74 billion in advertising revenue last year but repatriated $1.51 billion to parent companies. The company's net profit rose to $61.2 million, driven by a 26 percent increase from the previous year. Legislation to compel tech giants to compensate news publishers is expected to be introduced.
Summary by Glance · Brisbane Times
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