In unpleasant news to Google investors, Google Chief Financial Officer George Reyes has announced that the company has largely realized the search monetization gains and would need to find new ways to make money. The projected slow growth send shares of search engine giant down as much as 14 percent by mid-morning before halving those losses.
Analysts said that investors had overreacted to Reyes' statements, pointing to increasing market share and ad revenues. They also said that Reyes' speech largely was bullish, and the concerns over a possible slowdown in growth came at the very end.
Many believe Google's valuation is almost certain to recover after the company holds its annual Analyst Day on Thursday.
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