Starlink, the SpaceX satellite web service, generated $1.4 billion in revenue last yr, documents viewed by reveal. That’s up from $222 million in 2021 but $11 billion wanting its original projections, in accordance with the.
Interestingly,’sreport comes the identical day SpaceX exec Jonathan Hofeller said at a conference that it’s not incurring losses for producing Starlink’s satellite antennas, reports CNBC. Based on documents viewed by profitability took a success in 2022, but a report by the outlet last month said SpaceX did manage to show a profit in the primary quarter of 2023
In a 2015 presentation to investors, the Elon Musk-founded company initially predicted that Starlink would make $12 billion and $7 billion in operating profit in 2022. SpaceX also projected the division would have 20 million subscribers by the tip of 2022, the presentation reveals. As a substitute, by the tip of last yr, Starlink only had over 1 million lively subscribers. By May 2023, the corporate reported it had about 1.5 million users; nevertheless, CNBC reports Hofeller stated it’s now “well over” that mark.
In October 2022, Musk tweeted that Starlink was losing about $20 million a month to take care of its services before saying, “Regardless that Starlink continues to be losing money & other corporations are getting billions of taxpayer $, we’ll just keep funding Ukraine govt without cost.”
In an upcoming book by Walter Isaacson, an excerpt for which was published by , Isaacson quotes SpaceX president Gwynne Shotwell saying that, before Musk’s reversal, “The Pentagon had a $145 million check able to hand to me, literally. Then Elon succumbed to the bullshit on Twitter and to the haters on the Pentagon who leaked the story.” Nevertheless, Isaacson claims government agencies did eventually start paying for increased Starlink service in Ukraine.