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Google CFO warns of slowdown; stock price plunges

Published on .

Feb. 28 New York—Google Chief Financial Officer George Reyes said the company’s growth is slowing due to the “law of large numbers” and it will need to find new ways to boost revenue.

The comments, made at an investor conference and reported Tuesday by WSJ.com, triggered a sell-off in Google’s shares.

In heavy trading early on Tuesday, Google shares fell 9%, or $37.70, to $354 on the NASDAQ stock market.

Google shares, which hit a record high of $475 in early January, took a beating in the middle of that month after an article in Barron’s said the Internet search giant’s share price could be cut in half in the next year as the company grapples with growing competition and other factors.

—Matthew Schwartz

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