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Benzinga
Benzinga
Business
Surbhi Jain

Elon Musk Says SpaceX Hits $100B 'If We Basically Did Nothing' — 'Nothing' Never Looked So Hard

Elon Musk SpaceX Space Exploration Technologies Corp SPCX Bret Johnsen
Elon Musk

Space Exploration Technologies Corp. (NASDAQ:SPCX) set one of the boldest financial targets of the earnings season on Tuesday, with CEO Elon Musk telling investors the company expects to reach a $100 billion annual recurring revenue (ARR) run rate by December. Then he added an even bolder qualifier.

"To be clear, the $100 billion ARR in December is not a question mark. That’s what we’d achieve if we basically did nothing," Musk said during the company’s second-quarter earnings call. "I think it may be higher than that. It probably will be higher than that."

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