Meta says about 10 percent of its global ad revenue at risk from EU data flows order

Meta’s earning call yesterday was upbeat on better than expected revenue for the quarter. However buried in its disclosures to investors is a stark warning on looming regulatory risk it’s facing in Europe — where a decision is expected in a matter of weeks (by May 12) that could see the tech giant ordered to suspend its transatlantic data flows.

“We expect the Irish Data Protection Commission (IDPC) to issue a decision in May in its previously disclosed inquiry relating to transatlantic data transfers of Facebook EU/EEA user data, including a suspension order for such transfers and a fine,” Meta’s CFO wrote in its Q1 2023 report.

We’ve covered the (very) long-running saga — which hinges on a clash between US surveillance laws and EU privacy rights — most recently here and here. So regular TechCrunch readers will already know that a key development Meta is hoping will save its bacon in Europe is the adoption of a new high level data transfer pact which aims to resolve the legal uncertainty around EU data exports.