Starlink's subscriber growth missed. Its profits didn't.
Elon Musk's SpaceX is aiming at Verizon, AT&T, and T-Mobile.
KEVIN LAMARQUE / POOL / AFP via Getty Images Starlink missed on customer growth expectations.
It's still making a ton of money for SpaceX.
The company is leaning heavily on large customers, like governments.
The company acquired a spectrum provider in October.
Execs said they're targeting mobile providers.
Starlink is SpaceX's big cash cow .
And it just reported some mixed results.
On Tuesday, during the company's earnings call , SpaceX said its satellite-internet service had 13.6 million consumer subscribers at the end of September, up 1.6 million from three months earlier.
That fell short of the 14.2 million expected by Bloomberg analysts — though the company said the figure excludes hundreds of thousands of enterprise subscribers and aviation customers.
Still, Starlink is making a lot of money.
Monthly consumer revenue per user rose 5% from the previous quarter, while enterprise and government revenue jumped 91% from a year earlier to $2.1 billion.
A big, important customer? Airlines.
The company said that, as of the end of September, 3,800 total aircraft had been outfitted with Starlink equipment.
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.businessinsider.com — the content belongs to Business Insider.
