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Report: SpaceX Turns Small Profit in Q1

SpaceX was reportedly able to turn a small profit in the first quarter due to a rising revenue. This is according to a Wall Street Journal report that looked at the private company's finances, SpaceX made $55 million in profit on $1.5 billion in revenue. During the first quarter. The slim earnings come after two years of not turning a profit in 2022 SpaceX posted a $559 million loss on $4.6 billion in revenue. In 2021 and 2022 SpaceX spent a total of $5.4 billion on new equipment and invested in research and development. Some of that money was used to develop the company space Rocket Starship.