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).
President Donald Trump wants his “big, beautiful” bill of tax breaks and spending cuts on his desk to be singed into law by Independence Day. And he’s pushing the slow-rolling Senate to make it happen sooner rather than later. Trump met with Senate Majority Leader John Thune at the White House early this week and has been dialing senators for one-on-one chats, using both the carrot and stick to encourage them to act. But it’s still a long road ahead for the bill. Senators want to make changes to protect Medicaid and to make sure some tax breaks become permanent. Elon Musk called the whole bill a "disgusting abomination.”
For Novak Djokovic, this is a relatively easy call. He thinks the French Open is making a mistake by eschewing the electronic line-calling used at most big tennis tournaments and instead remaining old school by letting line judges decide whether serves or other shots land in or out.
