SpaceX Expects Whopping $8 Billion Revenue, $3 Billion Operating Profit This Year
- Shams Ul Zoha
- July 18, 2023
- 11:42 am
WHAT YOU SHOULD KNOW
- SpaceX forecasts a substantial increase in revenue, expecting to reach $8 billion this year, double the amount generated last year.
- In addition to the projected revenue, SpaceX anticipates an operating profit of approximately $3 billion, excluding the expenses associated with rocket and satellite development.
- Elon Musk remains committed to pushing boundaries in space technology.
In a promising development, SpaceX has informed its investors that it is anticipating an impressive revenue of $8 billion this year, as reported by The Information. This projection marks a significant increase compared to the previous year, where SpaceX generated approximately half that amount. Additionally, SpaceX foresees an operating profit of around $3 billion, excluding the expenses associated with the construction of rockets and satellites.
The achievement of a staggering valuation of nearly $150 billion after a recent share sale by existing investors further highlights SpaceX’s significance. The company has agreed to a secondary sale of existing shares, with insiders selling up to $750 million in stock at $81 per share, according to CNBC. This valuation underscores the trust and confidence investors have in SpaceX’s potential for success.
Elon Musk, the visionary behind SpaceX, has reaffirmed his commitment to pushing the boundaries of space technology. He aims to deliver 80% of Earth’s payload to orbit by the year’s end, as stated during a discussion with author Ashlee Vance. Musk also expressed his optimism regarding the next flight of the Starship, predicting a 60% probability of achieving a successful orbit, contingent upon the smooth separation of stages.
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