Amazon CEO: Kuiper Will Generate 'Meaningful' Income

Amazon's Kuiper broadband satellite constellation is a capital-intensive effort, but eventually it "will be a meaningful operating income and [return on invested capital] business," Amazon CEO Andy Jassy said in a letter to shareholders Thursday. Amazon intends to have upward of 3,200 satellites in orbit "over the next few years" to provide connectivity to the 400 million-500 million mostly rural households globally lacking access, he added.