Elon Musk's private space venture reportedly turned a profit of $55 million in the first quarter of 2023.
, revenues from its trusty Falcon 9 rocket and internet constellation Starlink are helping the company turn a profit.
The year before, SpaceX reported an increase in its expenses from $3.3 billion in 2021 to $5.2 billion in 2022. The company’s revenues, however, doubled to $4.6 billion, which reduced SpaceX’s annual losses to $559 million in 2022, down from $968 million in 2021, according to the financial documents. The documents also revealed that in 2021 and 2022, the company spent a total of $5.
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