Tesla delivered 358,023 electric vehicles in the first quarter, a 6.3% increase from the same period last year. The company fell short of Wall Street expectations, with analysts predicting 368,900 deliveries according to a consensus of 19 investment firms' estimates compiled by Visible Alpha. Tesla stock dropped 4% in early trading following the announcement.

This marks a rebound from last year's dramatic sales decline, which came amid growing backlash against Chief Executive Elon Musk's political activism. The company has faced mounting pressure from Chinese automakers over the past two years, struggling to maintain market share in the world's largest EV market. Tesla's ability to stabilize sales comes as the broader electric vehicle industry experiences mixed results.

The quarterly results suggest Tesla may be finding its footing after a turbulent period. While missing delivery estimates disappointed investors, the year-over-year growth indicates the company's challenges may be easing. Tesla's performance will be closely watched as competition intensifies and the global EV market continues evolving.