SpaceX Eyeing Revenue to $8B, Doubling Last Year's Figures: Report

Elon Musk‘s SpaceX is reportedly eyeing a revenue of a whopping $8 billion this year.

What Happened: 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.

Why It Matters: 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. 

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