Elon Musk's Starlink achieves breakeven cash flow, says system is on all active satellites

Elon Musk's Starlink achieves breakeven cash flow, says system is on all active satellites

Starlink posted a more than six-fold growth in revenue last year. It came in at $1.4 billion, but fell short of targets set by Musk, the Wall Street Journal reported in September, citing documents.

Advertisement
Starlink has grown its network in low-Earth orbit to roughly 5,000 satellites.Starlink has grown its network in low-Earth orbit to roughly 5,000 satellites.
https://akm-img-a-in.tosshub.com/businesstoday/2023-04/logo.png
Business Today Desk
  • Nov 3, 2023,
  • Updated Nov 3, 2023 10:54 AM IST

Tech billionaire and CEO of SpaceX, Elon Musk, said on Thursday the rocket company's satellite internet unit, Starlink, had achieved cash flow breakeven. Musk made this announcement on microblogging platform X, erstwhile Twitter.

He wrote, “Excited to announce that @SpaceX @Starlink has achieved breakeven cash flow! Excellent work by a great team.”

Advertisement

The tech billionaire also added that the system is now on all active satellites.

Starlink has been in the spotlight since last year after it helped provide Ukraine with satellite communications key to its war efforts against Russia.

Moreover, Elon Musk said Starlink will support communication links in Gaza with "internationally recognized aid organisations." This happened after a telecom and internet blackout isolated people in the Gaza Strip from the world and from each other.

Tech billionaire and CEO of SpaceX, Elon Musk, said on Thursday the rocket company's satellite internet unit, Starlink, had achieved cash flow breakeven. Musk made this announcement on microblogging platform X, erstwhile Twitter.

He wrote, “Excited to announce that @SpaceX @Starlink has achieved breakeven cash flow! Excellent work by a great team.”

Advertisement

The tech billionaire also added that the system is now on all active satellites.

Starlink has been in the spotlight since last year after it helped provide Ukraine with satellite communications key to its war efforts against Russia.

Moreover, Elon Musk said Starlink will support communication links in Gaza with "internationally recognized aid organisations." This happened after a telecom and internet blackout isolated people in the Gaza Strip from the world and from each other.

Read more!
Advertisement