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

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 US$55 million in profit on US$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.