Leaked Documents Unveil Meta's $16 Billion Revenue Projection From Scam Ads

Benzinga

Leaked internal documents suggest Meta projected nearly $16B in 2024 revenue from scam and banned product ads, roughly 10% of its total revenue. The files indicate Meta failed to curb billions of fraudulent ads daily and allowed repeat violators to continue running campaigns. Meta disputes the figures, calling them rough estimates and noting a reported drop in scam ad complaints.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Meta reportedly projected nearly $16 billion in 2024 revenue from scam and banned product ads,

00:09about 10% of its total revenue, according to leaked internal documents cited by Reuters.

00:15The files revealed that Meta failed to stop a surge of fraudulent ads promoting scams,

00:20illegal gambling, and banned medical products, reaching billions of users.

00:25The documents estimated that Meta displayed about 15 billion high-risk scam ads daily,

00:31generating roughly $7 billion in annual revenue.

00:34Meta allegedly failed to act promptly against major fraudulent advertisers,

00:38allowing some high-value accounts to rack up over 500 violations without suspension.

00:44A company spokesperson said the figures were rough and overly inclusive,

00:48and added that scam ad reports dropped 50% in 15 months.

00:51For all things money, visit Benzinga.com.

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