Under the leadership of Elon Musk, SpaceX’s satellite-based broadband internet service Starlink is improving its global coverage with newly launched satellites. SpaceX did not disclose how much revenue the Starlink service generated. However, according to documents viewed by The Wall Street Journal, it was revealed how much Starlink earned in 2022.Starlink is far from its goals
SpaceX’s satellite internet service Starlink generated $1.4 billion in revenue last year, according to TWSJ. That figure was $222 million in 2021, but was about $11 billion below their original projections, according to the Journal. However, SpaceX manager Jonathan Hofeller said at a conference he attended that they are no longer making a loss to produce Starlink’s satellite antennas.
In a presentation to investors in 2015, the company founded by Elon Musk predicted that Starlink would generate $12 billion in revenue and $7 billion in operating profit in 2022. According to the presentation, SpaceX also predicted that the division would have 20 million subscribers by the end of 2022. Instead, at the end of last year, Starlink only had more than 1 million active subscribers. As of now, the number of subscribers is estimated to be more than 1.5 million.
However, the number of Starlink’s satellites continues to rise constantly. Late last month, SpaceX increased the number of Starlink satellites in orbit to over 5,000 with its launch via its Falcon 9 rocket.
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