Musk Says Starlink Can Deliver Most Internet in 10 Years as Q2 Revenue Jumps 66%

3 articles · Updated · GeekWire · Aug 4

Starlink generated $4.3 billion in second-quarter revenue and $1.7 billion in operating income, prompting Musk to say a new satellite generation could lift sales tenfold and carry a majority of global internet traffic within a decade.
SpaceX used Starlink’s profits to offset heavy AI spending: the Grok and X division lost $1.3 billion while capital expenditures hit $15.8 billion, more than three times Starlink’s quarterly revenue.
SpaceX overall posted $7.8 billion in revenue, up 92% from a year earlier, and narrowed its net loss to $541 million from $1 billion, beating Wall Street expectations.
Starlink ended the quarter with 12 million subscribers, up 1.7 million from Q1 and double a year earlier, while enterprise and government sales jumped 108% to more than 40% of segment revenue.
Investor concern centered on spending: shares rose 9.4% to $125.33 before falling nearly 5% after hours, even as Starlink’s 9,600 satellites account for about 75% of active maneuverable satellites in orbit.