SERVICE SpaceX satellite internet, Starlink made a profit of US$1.4 billion in 2022. However, this profit does not appear to have reached the target indicated by Elon Muskas founder of Starlink in 2015.
As The Verge cited from a Wall Street Journal report, in a 2015 investor presentation, Elon Musk aimed for profits generated by Starlink to reach $12 billion in 2022.
While it is expected to see earnings growth of $222 million in 2022, the $1.4 billion figure is certainly still a far cry from its previously set $12 billion target.
Not just profits, the report also quotes Elon Musk, who predicts that Starlink users will reach 20 million by 2022. In reality, at the end of 2022, the number of active Starlink users will only be around 1 million. More recently, in May 2023, active Starlink users were still around 1.5 million.
However, in the first quarter of 2023, Starlink would have managed to make a profit as early as the first quarter of 2023. Furthermore, in the CNBC report, Jonathan Hofeller as a SpaceX executive released his statement on the same day as The Wall was published Street Newspaper Report.
He did not mention the amount of profit, at the conference he only discussed Starlink, which no longer suffers losses in the production of satellite antennas.
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