Google CFO Says Growth Is Slowing
The 800-pound gorilla's rampage has started to slow down a bit, as evidenced by the chief financial officer's admission that the search company will have to find new ways to boost revenue. Related: Check out Truthdig's eye-opening report on Google's grasp of the intimate details of your life.AP: Google Inc.’s stocks declined sharply Tuesday morning after Chief Financial Officer George Reyes told investors that growth at the online search leader was slowing.
The Mountain View, Calif.-based company’s stock was down as more than 10 percent, or nearly $41, in morning trading after Reyes told investors at a Merrill Lynch conference that the company would have to find new ways to boost revenues.
The stock had risen $12.98, or 3.4 percent, in trading Monday to close at $390.38 on the Nasdaq Stock Market amid renewed investor optimism about the company’s moneymaking prowess.
Related: Check out Truthdig’s eye-opening report on Google’s grasp of the intimate details of your life.
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