Tesla shares jumped more than 10 percent Thursday after the company reported earnings for the second quarter.
Investors seemed to cheer the fact that the electric automaker burned through less cashー$739.5 million in Q2 compared to $1 billion the quarter beforeーand that CEO Elon Musk behaved himself: the billionaire began the earnings call by apologizing to analysts for his ["bad manners"](https://cheddar.com/videos/elon-musk-combative-with-analysts-may-have-a-point?utm_source=All+Subs&utm_campaign=5c55c38d33-EMAIL_CAMPAIGN_2018_08_01_06_20&utm_medium=email&utm_term=0_4b7ac66387-5c55c38d33-121269037) three months ago, which accelerated after-market gains in the stock.
Other positives from Tesla's earnings: the company said it expects to manufacture more than 6,000 of Model 3s a week by the end of the month and that most factories would be able to produce 10,000 cars a week by the end of the year.
That would be a big step toward achieving profitabilityーMusk has said that sustained production of the Model 3 is essential for increasing cash flow and cutting losses. The company ended the quarter with about $2.2 billion in cash on its balance sheet, suggesting it has just enough to get through the year.
Still, Tesla did post a bigger loss than expectedー$3.06 a share versus an estimated $2.92ーand Musk acknowledged the company would need to raise capital to fund its planned expansion to Shanghai.
In all, the company produced more than 53,000 carsーModel 3s, Model Ss, and Model Xsーduring the second quarter, and delivered almost 41,000 vehicles. It also took a restructuring charge for cutting its workforce by 9 percent.
For more on this story, [click here](https://cheddar.com/videos/tesla-stocks-rise-after-earnings-report).
A saving grace for offices during pandemic lockdowns, video communication platform Zoom announced its own plans for doors to reopen from its Work Transformation Summit 2022. Dubbed Workstyles, CFO Kelly Steckelberg joined Cheddar to discuss the self-reported, tiered levels for how employees will be reporting going forward, from the majority of workers going hybrid to personnel who will work fully from home or the office where it makes sense. Steckelberg also talked about the company's plans for the future, stating “what we can control is our own execution," as Zoom's stock hit a 52-week low.
Sebastien Lagree, creator and founder of Lagree Fitness, joins Cheddar News to talk about the growth of Lagree Fitness and industry trends to watch in 2022.
Nikhilesh De, managing editor of global regulation and policy at CoinDesk, joins Cheddar News to discuss Bitcoin's slump and corporations' growing interest in NFTs.
Airlines around the world cancel or change flights ahead of Verizon and AT&T's 5G rollout. The two wireless companies agreed to temporarily delay the launch of the new service near some key airports, after airlines warned the 5G signals could interfere with certain aviation equipment. Jonathan Adelstein, president and CEO of the Wireless Infrastructure Association, joined Cheddar News to discuss.
Thrive Market is a health-first membership for conscious living, with a mission to make healthy and sustainable living easy and accessible. Nick Green, CEO and co-founder, chatted with Cheddar's Baker Machado about the company's approach and new ventures in 2022. "I grew up outside of Minneapolis, middle class, middle America, and really saw firsthand how hard my mom had to work to put healthy food on the table, on a budget, without a health food store nearby," he said. "Twenty-some years later we looked around and just thought it was crazy that millions of Americans are still struggling with the same thing, and we decided to change it." Recently the brand released a line of organic frozen products and will be introducing new beauty and home brands.
In the ongoing saga of AT&T and Verizon versus airlines over the U.S. rollout of 5G near airports, the telecom giants have agreed to delay some deployments. The decision came after arguments that the technology could pose a threat to the safety and security of flights. However, AT&T countered that airlines had two years to prepare for this rollout date.
In what could be the biggest deal in video games history, Microsoft's purchase of Activision Blizzard underlines the company's aggressive push in gaming and beyond into its long-term vision of being top dog in the metaverse. Adam Hollander, former director of gamification at Microsoft and founder of Hungry Wolves NFT, joined Cheddar's Opening Bell to discuss. “Microsoft always plays chess, not checkers," he said, describing the price tag as an opportunity cost. "It's about integrating Activision Blizzard in with Azure and Windows and Xbox and Hololens and Minecraft and everything else that they're doing for the inevitable goal of being the major player in the next phase of the internet."
Telecom giants AT&T and Verizon have agreed to delay activating their 5G services around airports and runways once again. This comes after major U.S. airlines voiced their concern over the rollout of 5G technology, warning of an impending "catastrophic" aviation crisis. Peter Andersen, Chief Investment Officer, Anderson Capital Management joined Cheddar's Opening Bell to discuss.
