In July the company scaled back its yearly earnings guidance because of the shortfall.

The company revised its earnings guidance for the fiscal year 2007.

"Most of the numbers are within the consensus range, but the earnings guidance for the first quarter was disappointing."

The results still beat analysts' estimates, and the company raised its full-year earnings guidance for 2004.

G.M., which lost $1.1 billion in the first quarter, has abandoned its earnings guidance for the year.

The company also cut its earnings guidance for the year to $1 to $2 a share, from $4 to $5 a share.

Many investors had sold the stock ahead of today's announcement, fearing the new earnings guidance would be dismal.

One of the areas regulators appear to be exploring is the lowered earnings guidance the company provided to investors on May 7.

Johnson & Johnson also increased its earnings guidance for the year.

The reaction to Ford's pared-down earnings guidance was similar.