Nov 2 (Reuters) - SpaceX CEO Elon Musk said on Thursday the rocket company’s satellite internet unit, Starlink, had achieved cash flow breakeven.
In 2021, Musk said SpaceX would spin off and take Starlink public once its cash flow was reasonably predictable.
Starlink has been in the spotlight since last year as it helps provide Ukraine with satellite communications key to its war efforts against Russia.
Last month, Musk said Starlink will support communication links in Gaza with “internationally recognized aid organizations” after a telephone and internet blackout isolated people in the Gaza Strip from the world and from each other.
Musk has sought to establish the Starlink business unit as a crucial source of revenue to fund SpaceX’s more capital-intensive projects such as its next-generation Starship, a giant reusable rocket the company intends to fly to the moon for NASA within the next decade.
Starlink posted a more than six-fold surge in revenue last year to $1.4 billion, but fell short of targets set by Musk, the Wall Street Journal reported in September, citing documents.
The original article contains 271 words, the summary contains 176 words. Saved 35%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Nov 2 (Reuters) - SpaceX CEO Elon Musk said on Thursday the rocket company’s satellite internet unit, Starlink, had achieved cash flow breakeven.
In 2021, Musk said SpaceX would spin off and take Starlink public once its cash flow was reasonably predictable.
Starlink has been in the spotlight since last year as it helps provide Ukraine with satellite communications key to its war efforts against Russia.
Last month, Musk said Starlink will support communication links in Gaza with “internationally recognized aid organizations” after a telephone and internet blackout isolated people in the Gaza Strip from the world and from each other.
Musk has sought to establish the Starlink business unit as a crucial source of revenue to fund SpaceX’s more capital-intensive projects such as its next-generation Starship, a giant reusable rocket the company intends to fly to the moon for NASA within the next decade.
Starlink posted a more than six-fold surge in revenue last year to $1.4 billion, but fell short of targets set by Musk, the Wall Street Journal reported in September, citing documents.
The original article contains 271 words, the summary contains 176 words. Saved 35%. I’m a bot and I’m open source!