By Anan Ashraf
Elon Musk‘s SpaceX is reportedly eyeing a revenue of a whopping $8 billion this year.
The space exploration firm told investors that it expects revenue of $8 billion, The Information reported, citing people familiar with the matter. SpaceX’s revenue last year was roughly half the amount.
SpaceX also sees an operating profit of about $3 billion, excluding expenses of building rockets and satellites.
Last week, it was reported that SpaceX achieved a staggering valuation of nearly $150 billion after a share sale by existing investors.
The company has agreed to sell up to $750 million in stock from insiders at $81 a share, representing a secondary sale of existing shares, CNBC reported — citing a copy of the purchase offer sent by CFO Bret Johnsen on Thursday.
During a discussion with author Ashlee Vance, in June, Musk reaffirmed his goal of delivering 80% of Earth’s payload to orbit by the end of this year. He also predicted a 60% probability for the next flight of its Starship to successfully reach orbit, contingent on the success of stage separation.
Produced in association with Benzinga
Edited by Saba Fatima and Maham Javaid