SpaceX is way ahead of competitors with Starlink, but growth is harder heading into IPO
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- As investors line up to buy Space X stock in the largest IPO on record, about the only real business they have to evaluate is Starlink, the company's satellite internet division.
- Meanwhile, the company's space, and artificial intelligence segments generated a combined $1.4 billion in first-quarter revenue, while their operating losses totaled $3.1 billion in that stretch.
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As investors line up to buy Space X stock in the largest IPO on record, about the only real business they have to evaluate is Starlink, the company's satellite internet division. It's by far the biggest by revenue, the only piece of the company that's profitable, and it boasts a dominant market position, with consumer broadband customers more than doubling over the past year to 10.3 million, SpaceX says.
Meanwhile, the company's space, and artificial intelligence segments generated a combined $1.4 billion in first-quarter revenue, while their operating losses totaled $3.1 billion in that stretch.