In a filing, Amazon disclosed EU privacy regulators fined the company a record $888M for violating GDPR data storage rules in a July 16 decision
or 1 in every 169 workers Nathan Ord / HotHardware.com News : Amazon Slapped With Nearly $900 Million Fine Over EU Privacy Violations Marketing Dive : Amazon ad sales jump 87% as company emphasizes new marketing, content offerings Derrek Lee / Android Central : Amazon hit with record $887M privacy fine, will ‘vigorously’ defend itself Chris Nuttall / Financial Times : Amazon hit by record fine, slowing sales Vincent Manancourt / Politico : With Amazon fine, Luxembourg emerges as Europe's unlikely privacy champion Maria Deutscher / SiliconANGLE : Amazon ordered to pay $887M fine over data misuse PYMNTS.com : EU Privacy Regulator Fines Amazon $887M Christopher Baugh / iPhone in Canada Blog : Amazon Slapped With Record €746 Milllion Fine Over GDPR Violations Jonathan Ponciano / Forbes : Amazon Stock Loses $130 Billion In Market Value After $885 Million Fine And Disappointing Earnings Report Dell Cameron / Gizmodo : Amazon to Appeal Record $886 Million Fine Over Advertising Practices Surur / MSPoweruser : Amazon fined massive $888 million by EU Privacy Regulator Jacob Siegal / BGR : Amazon fined a record $887 million over data privacy violations Matthew Humphries / PCMag : Amazon Fined $887M By EU Privacy Regulator Politico : Amazon fined €746M for violating privacy rules Jennifer Maas / The Wrap : Amazon Slams $887 Million Fine by European Data Privacy Regulator as ‘Entirely Out of Proportion’ Katie Collins / CNET : Amazon hit with record $888M fine over GDPR violations Wesley Hilliard / AppleInsider : Amazon slammed with $887 million fine by EU privacy regulators Saqib Shah / Engadget : Amazon handed record $888 million fine from EU data privacy watchdog Grace Dean / Insider : Amazon has been fined a record $887 million for violating data privacy rules in Europe Michael Grothaus / Fast Company : Why are Amazon shares down 6% premarket? An easing pandemic Andrew Orr / The Mac Observer : Luxembourg Fines Amazon $886 Million Over Data Practices Todd Bishop / GeekWire : Amazon disputes record $885 million fine from European Union data privacy watchdog Chris Dawson / Tamebay : Jeff's last school report (Amazon Q2 2021 earnings) Tweets: Vincent Manancourt / @vmanancourt : Amazon just got handed the biggest GDPR fine ever issued: 746 million euros. And surprisingly, it was issued by Luxembourg's data protection authority. Before, the record was a 50 million fine for Google, from France's famously tough enforcer. 🧵 https://www.politico.eu/... Mark Nunnikhoven / @marknca : wow. @amazon will appeal but this is a massive fine. 746€ under GDPR. on first glance, that looks like a 2% of global turnover fine which could be a midrange fine for a serious breach or a max fine for a less serious one definitely need more details... https://www.reuters.com/... Dell Cameron / @dellcam : Amazon is denying the record fine it faces under GDPR is related to any sort of “data breach” & says it's appealing the decision, saying the regulator's decision is based on “untested interpretations” of E.U. law concerning its advertising practices. https://gizmodo.com/... Samuel Stolton / @samuelstolton : If Luxembourg's €746m fine against Amazon is related to La Quadrature du Net's 2018 complaint (as rumours), looks like Article 6 GDPR consent violations. LQdN sought the ‘highest possible fine’ for Amazon's use of data for behavioural analysis & targeted ads without consent: https://twitter.com/... Robert Bateman / @robertjbateman : So it looks like Amazon now holds the record for the biggest GDPR fine ever—€746m. That's almost 50% higher than the previous record. And the record-breaking DPA is... Luxembourg?! Forgive my shock, but Luxembourg is not best-known for its blistering GDPR penalties. /1 Max Schrems / @maxschrems : Great work by @laquadrature on the record #Amazon-#GDPR-Penalty! Will be very interesting to see the details of the #CNPD decision.. https://www.bloomberg.com/... (reported by @StephanieBodoni) Adam Levin / @adam_k_levin : It looks like fines for #GDPR violations are ramping up — whether or not it changes the practices of companies like Amazon is another question entirely. https://www.reuters.com/... #privacy Sam Shead / @sam_l_shead : Amazon shares are down 7.7% after it revealed it's facing an $887 million fine for allegedly breaking Europe's General Data Protection Regulation Privacy Matters / @privacymatters : The Luxembourg DPA fines Amazon Euro 746 million for violations of the GDPR. https://www.bloomberg.com/... Here is Amazon's SEC filing listing the fine https://www.sec.gov/... “We believe the CNPD's decision to be without merit & intend to defend ourselves vigorously in this matter” https://twitter.com/... Dare Obasanjo / @carnage4life : Revenue from Amazon's ad business is now larger than Twitter, Snapchat, Pinterest & LinkedIn combined. This is an even bigger sleeper hit than AWS. More proof that search ads is the greatest business in the world. https://www.techmeme.com/... Dare Obasanjo / @carnage4life : Amazon fined $888M by the EU for violating GDPR privacy laws. Fine stems from a complaint by a French civil rights group, La Quadrature du Net for behavioral analysis & targeted advertising. They also complained about Apple, Google, LinkedIn & Facebook. https://www.bloomberg.com/... See also Mediagazer
Amazon just got handed the biggest GDPR fine ever issued: 746 million euros. And surprisingly, it was issued by Luxembourg's data protection authority. Before, the record was a 50 million fine for Google, from France's famously tough enforcer. 🧵 https://www.politico.eu/...
wow. @amazon will appeal but this is a massive fine. 746€ under GDPR. on first glance, that looks like a 2% of global turnover fine which could be a midrange fine for a serious breach or a max fine for a less serious one definitely need more details... https://www.reuters.com/...
Amazon is denying the record fine it faces under GDPR is related to any sort of “data breach” & says it's appealing the decision, saying the regulator's decision is based on “untested interpretations” of E.U. law concerning its advertising practices. https://gizmodo.com/...
If Luxembourg's €746m fine against Amazon is related to La Quadrature du Net's 2018 complaint (as rumours), looks like Article 6 GDPR consent violations. LQdN sought the ‘highest possible fine’ for Amazon's use of data for behavioural analysis & targeted ads without consent: http…
So it looks like Amazon now holds the record for the biggest GDPR fine ever—€746m. That's almost 50% higher than the previous record. And the record-breaking DPA is... Luxembourg?! Forgive my shock, but Luxembourg is not best-known for its blistering GDPR penalties. /1
Great work by @laquadrature on the record #Amazon-#GDPR-Penalty! Will be very interesting to see the details of the #CNPD decision.. https://www.bloomberg.com/... (reported by @StephanieBodoni)
It looks like fines for #GDPR violations are ramping up — whether or not it changes the practices of companies like Amazon is another question entirely. https://www.reuters.com/... #privacy
The Luxembourg DPA fines Amazon Euro 746 million for violations of the GDPR. https://www.bloomberg.com/... Here is Amazon's SEC filing listing the fine https://www.sec.gov/... “We believe the CNPD's decision to be without merit & intend to defend ourselves vigorously in this matt…
Revenue from Amazon's ad business is now larger than Twitter, Snapchat, Pinterest & LinkedIn combined. This is an even bigger sleeper hit than AWS. More proof that search ads is the greatest business in the world. https://www.techmeme.com/...
Amazon fined $888M by the EU for violating GDPR privacy laws. Fine stems from a complaint by a French civil rights group, La Quadrature du Net for behavioral analysis & targeted advertising. They also complained about Apple, Google, LinkedIn & Facebook. https://www.bloomberg.com/…
Amazon's earnings report always makes me think of this stat: It has a sales category called “Other” that is actually bigger than almost 80% of companies in the S&P 500 index https://www.bloomberg.com/...
Amazon is out. * Missed the Street. Analysts got ahead of themselves given revenue was inline with company guidance. Reminder to take company guidance seriously. Midpoint of September guidance is 8% below the Street. This implies 18% growth vs. 27% just reported.
Tricky Amazon's earnings to condense since it really depends on who's reading. Investors expected more, sending shares down, but sales over the three months still grew $24 billion — 27 percent — over the same period last year. https://www.nytimes.com/...
Amazon EPS beat expectations at $15.12 versus $12.28 expected, but net sales fells short of expectations. And @PeterHanksFX says the sales forecast is underwhelming. Therefore, it comes as little surprise that $AMZN is trading down over -5% afterhours https://twitter.com/...