I don’t think that’s quite true. (Happy to be proven wrong if somebody has better numbers than me.)
From what I can see the launch business generated $4.1 billion, but profits in that segment are negative because the $3 billion in Starship development costs are lumped in to that. The overall loss (-$600 million) would instantly turn into great profit if they decided to give up on Starship.
But for sure, xAi is a nightmare. Absolutely Elon trying to bail himself out again.
The best numbers I can find are from 2024, when Starlink made a total of $72 million in profit.
Not great numbers though, as the article explains. It only talks about the cost of the end user hardware and providing the service, so the profit is against those expenses. It doesn’t factor in the cost of launches and satellites.
I don’t think that’s quite true. (Happy to be proven wrong if somebody has better numbers than me.)
From what I can see the launch business generated $4.1 billion, but profits in that segment are negative because the $3 billion in Starship development costs are lumped in to that. The overall loss (-$600 million) would instantly turn into great profit if they decided to give up on Starship.
But for sure, xAi is a nightmare. Absolutely Elon trying to bail himself out again.
The best numbers I can find are from 2024, when Starlink made a total of $72 million in profit.
Not great numbers though, as the article explains. It only talks about the cost of the end user hardware and providing the service, so the profit is against those expenses. It doesn’t factor in the cost of launches and satellites.
Generated 4.1 billion with a profit of how much?
And how much money did they get from the US government?
Lockheed Martin gets most of their money from the government and still manages to be profitable.