SpaceX has stopped making a loss on its Starlink satellite internet service
Satellite Internet Starlink has stopped making losses. This was reported by Elon Musk, CEO of SpaceX.
Here's What We Know
This week, Elon Musk wrote on social network X that satellite internet service Starlink has stopped being unprofitable. He also noted that SpaceX owns most of the current satellites deployed in Earth orbit.
Excited to announce that @SpaceX @Starlink has achieved breakeven cash flow! Excellent work by a great team.
- Elon Musk (@elonmusk) November 2, 2023
Starlink is also now a majority of all active satellites and will have launched a majority of all satellites cumulatively from Earth by next year.
Starlink has been unprofitable for an extended period of time. SpaceX has consistently lost money maintaining the satellite internet service, and last year Elon Musk said a key goal of the business was to avoid going bankrupt.
Source: @elonmusk
