Home ยป Starlink Fetches a Modest $1.4 Billion Revenue in 2022, Falling Below Previous Corporate Appraisal Figures

Starlink Fetches a Modest $1.4 Billion Revenue in 2022, Falling Below Previous Corporate Appraisal Figures

A report from The Wall Street Journal, citing documents from SpaceX presented to investors, has revealed that Starlink, the satellite internet service venture, is projected to generate $1.4 billion in revenue in 2022, an increase of $222 million from the previous year. However, the documents do not specify whether this business segment is profitable or operating at a loss.

Nevertheless, these figures are quite different from the numbers SpaceX presented to investors in 2015, which predicted that Starlink would generate $12 billion in revenue in 2022, with a $7 billion operating profit and a global customer base of approximately 20 million. The latest statistics indicate that Starlink currently has around 1.5 million customers.

The challenge in Starlink’s business lies in attracting customers who require its services. For regular customers who already have high-speed internet access, there may be no need to utilize Starlink, which involves additional equipment and higher costs. Meanwhile, corporate customers are limited in certain business sectors, such as those located at sea or in the aviation industry.

It is worth mentioning that representatives from SpaceX have denied giving any comments regarding the aforementioned report.

TLDR: According to The Wall Street Journal, SpaceX’s Starlink satellite internet service is forecasted to generate $1.4 billion in revenue in 2022, a significant increase from the previous year. However, this is in contrast to projections made in 2015, which predicted higher revenue, profits, and a larger customer base. Starlink faces challenges in attracting customers who need its services, as regular customers with existing high-speed internet access may not find it necessary, while corporate customers are limited in certain industries. SpaceX representatives have declined to comment on the report.

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