Elon Musk Just Pulled SpaceX's $1 Trillion Revenue Goal Forward to 2030. Here's the Growth Rate It Requires.
Even from management's own bullish starting point, the goal means growing roughly tenfold in four years.
Overview
SpaceX (NASDAQ: SPCX) held its first earnings call as a public company on Tuesday, and CEO Elon Musk used it to make an already ambitious goal more ambitious.
The company's internal target for reaching $1 trillion in annual revenue, he said, has moved up a year, from 2031 to 2030. And he put what he called a "non-zero chance" on getting there in 2029.
Details
That is a striking thing to say about a company that produced $7.8 billion of revenue in the quarter it was reporting. It was a strong quarter, to be sure. Revenue grew 92% year over year, and the rocket and satellite company's net loss narrowed to $541 million from $1.0 billion a year earlier.
Source
Originally published at www.fool.com.