
"Google issues press statement (GOOG) : George Reyes, Chief Financial Officer of Google Inc, participated earlier today in the Merrill Lynch Internet, Advertising, Information, & Education conference. At this conference, Mr. Reyes made remarks regarding, among other things, revenue growth trends and expected sources of revenue growth. We would like to clarify and provide further information on these statements. As we have stated before, monetization improvements will continue to be a key factor in driving future revenue growth. We still see significant opportunities to improve monetization and intend to continue to focus our efforts in this area. Moreover, as we have stated in our SEC filings, our revenue growth rate has generally declined over time and we expect that it will continue to do so as a result of the difficulty of maintaining growth rates on a percentage basis as our revenues increase to higher levels. "
For a play by play of some of George Reyes most quoted comments visit Trader Mike
Since GOOG doesn't issue much in the way of financial guidance, these comments hit the stock and the market like a ton of bricks. GOOG's analyst conference is scheduled for March 2nd so I don't understand why the CFO felt compelled to let his mouth loose today. Is this a warm-up or, more likely, a CFO lacking in street smarts?
P.S. If Google is on the market for a new CFO, I can recommend a really good candidate.
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