SpaceX reports eight billion dollar profit on Starlink growth ahead of planned public offering
SpaceX generated 8 billion dollars in profit last year as Starlink drove massive revenue. The company is now exploring a merger with xAI before an expected IPO.
Insights:
SpaceX generated approximately $8 billion in profit on revenue between $15 billion and $16 billion last year, according to two people familiar with the results. These figures, which were previously unreported, were provided by individuals who asked not to be named to discuss private conversations. The profit figure cited by the sources was measured as earnings before interest, taxes, depreciation and amortization, or EBITDA.
Much of this financial performance was driven by Starlink, the satellite-based internet system operated by the company. Starlink is reported to account for about 50% to 80% of the total revenue for the firm led by elon musk. Whileremains the chief executive of the electric vehicle manufacturer , his space venture has seen significant growth in its satellite internet division.
