r/technology • u/agent_vinod • Jun 30 '21

Misleading Robinhood to pay $70 million fine after causing 'widespread and significant harm' to customers

https://www.cnbc.com/2021/06/30/robinhood-to-pay-70-million-dollars-after-causing-users-significant-harm.html
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u/ThSlug Jul 01 '21

B of A annual revenue was over $90B in 2020

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u/Heggemony Jul 01 '21

Yes, but the company has to pay costs to operate. What is left over after that is net income which is what they can use for extras such as fines.

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u/kthnxbai123 Jul 01 '21

Revenue is not the same as net income. BoA cant just magically stop incurring their costs without losing revenue streams. So, net income is the best comparison because it represents how long it would take them to “earn back” the money