Exclusive-SpaceX generated about $8 billion in profit last year ahead of IPO, sources say

By Echo Wang, Milana Vinn and Joey Roulette

NEW YORK, Jan 30 (Reuters) - SpaceX generated ​about $8 billion in profit on $15 billion to $16 ‌billion of revenue last year, two people familiar with ‌the company's results said, providing fresh insight into the financial health of Elon Musk’s space company that is expected to go public later this ⁠year.

SpaceX's most recent ‌financials, which have not been previously reported, led some banks to estimate ‍that the company could raise more than $50 billion at a valuation exceeding $1.5 trillion, said the people, who asked ​not to be named to discuss private ‌conversations.

Reuters reported on Thursday that SpaceX is also in talks with Musk’s artificial intelligence company, xAI, about a merger ahead of the IPO.

SpaceX did not immediately return a request for comment.

The ⁠profit figure was earnings before ​interest, taxes, depreciation and ​amortization, a key measure of operating performance. Musk's satellite-based internet system Starlink is the ‍main revenue ⁠driver, accounting for about 50% to 80% of the total, the people said.

(Reporting by ⁠Echo Wang and Milana Vinn in New York and ‌Joey Roulette in Washington; Editing by Dawn ‌Kopecki and Matthew Lewis)