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Elon Musk’s SpaceX turns profit in first quarter as revenue soars – WSJ


(Reuters) – Elon Musk-owned SpaceX’s surging revenue helped it turn a small profit in the first quarter of 2023 after two annual losses, the Wall Street Journal reported on Thursday, citing documents.

The company generated $55 million in profit on $1.5 billion in revenue during the January-to-March period, the report said.

SpaceX did not immediately respond to a Reuters request for comment.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Anil D’Silva)

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