Starlink, the SpaceX satellite internet service, generated $1.4 billion in revenue last year, documents viewed by The Wall Street Journal reveal. That’s up from $222 million in 2021 but $11 billion short of its original projections, according to the Journal.
Interestingly, The Wall Street Journal’s report comes the same day SpaceX exec Jonathan Hofeller said at a conference that it’s no longer incurring losses for producing Starlink’s satellite antennas, reports CNBC. According to documents viewed by The Wall Street Journal, profitability took a hit in 2022, but a report by the outlet last month said SpaceX did manage to turn a profit in the first quarter of 2023.
In a 2015 presentation to investors, the Elon Musk-founded company…