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Elon Musk delivers ‘totally nuts’ plans for moon robots and insists $1 trillion revenue target will hit but capex tanks SpaceX on debut earnings
['Amanda Gerut']
Fortune | FORTUNE
The company posted better-than-expected revenue growth in the second quarter and narrowed its losses to nearly half the level of a year ago.
He asked the market for patience regarding the growth of its Starlink business, which beams internet connectivity to Earth from satellites.
Otto, of Visible Alpha, said the $1 trillion revenue figure was not impossible.
“However, given the pace of revenue growth and investment this quarter, if the company remains in acceleration mode, it’s possible.”
Hypothetical moon markets aside, SpaceX’s Starlink business posted revenue of $4.3 billion in the second quarter, up 66% year over year.