Elon Musk on Tuesday said that Space Exploration Technologies Corp.’s (NASDAQ:SPCX) in-house forecast for hitting $1 trillion in annual revenue has been pulled forward to 2030 from 2031. $1 Trillion by 2030 or Earlier That new timetable lands as second-quarter revenue of $7.81 billion, up 92% year-over-year, pointing to a faster growth curve than many investors expected.
"It's probably also worth mentioning that our internal projections for reaching $1 trillion in revenue, not ARR, but revenue, have moved up from 2031 to 2030," Musk said during the call.
The SpaceX CEO also said that the milestone could also be reached earlier.
"There's a non-zero chance of that being in 2029," Musk added.
Read Also: SpaceX Reports $540 Million Losses on Bitcoin Holdings in Q2 — Elon Musk-Led Rocket Company Didn't Sell Any The company also anticipates reaching over $100 billion in annual recurring revenue (ARR) by December of this year.
