SpaceX CEO Elon Musk announced on Thursday that the company's Starlink satellite internet business"achieved breakeven cash flow."
Musk did not specify whether the milestone was hit on an operating basis, or for a different specified time period. SpaceX's valuation has soared to about $150 billion, with Starlink seen as a key economic driver of the company's goals. SpaceX CEO Elon Musk announced on Thursday that the company's Starlink satellite internet business"achieved breakeven cash flow."Sign up for NBC LA newsletters., with Starlink seen as a key economic driver of the company's goals. Two years ago, Musk emphasized that making Starlink"financially viable" required crossing"through a deep chasm of negative cash flow."once the business was"in a smooth sailing situation.
"Being public is definitely an invitation to pain," Musk told SpaceX employees in 2022."And the stock price is just distracting."It began offering Starlink service about three years ago, initially targeting the consumer market. Most recently, SpaceX has said Starlink has upward of two million subscribers, havingLast month SpaceX announced the opening of a new satellite antenna manufacturing facility in Bastrop, Texas, which is near Austin.
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Source: Reuters - 🏆 2. / 97 Read more »