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SpaceX Starlink space internet is no longer profitable

  • November 2, 2023
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SpaceX’s Starlink service has reached breakeven cash flow, a critical milestone for the company, according to CEO Elon Musk. Musk announced the success on his X social media

SpaceX Starlink space internet is no longer profitable

SpaceX’s Starlink service has reached breakeven cash flow, a critical milestone for the company, according to CEO Elon Musk. Musk announced the success on his X social media account on Thursday. According to him, Starlink currently accounts for the majority of all active satellites in Earth orbit.

It’s a significant achievement for the company, formally known as Space Exploration Technologies, especially since Musk announced Starlink’s launch last year. “Everyone loses money”. He then makes it clear that the real purpose of his work is “Don’t go bankrupt”.

Although there is almost no information available in open sources about Starlink’s financial situation, Gwynne Shotwell, president and chief operating officer of SpaceX, reported earlier this year on the profit planned for this year.

Investors and industry observers continue to closely monitor Starlink, which company executives say may one day change its status and go public.

Source: Port Altele

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