Google's Investors Hear The "S' Word, Head For The Exits; Growth Slowing, Says CFO; Highflier's stock takes a big dive after executive gives rare negative slant.(A)

Byline: PETE BARLAS

When Google's George Reyes speaks, investors listen -- a little too closely perhaps.

The company's stock went into a tailspin Tuesday after the chief financial officer gave some less-than-glowing remarks about growth expectations. Shares plummeted nearly 60 points in intraday trading before recovering a bit later in the day.

Reyes, speaking Tuesday morning at a Merrill Lynch conference in New York, said Google's growth will continue to slow over the next few years.

"Clearly our growth rates are slowing, and you see that each and every quarter," he said. "And we're going to have to find other ways to monetize our business."

Even before the 45-minute conference ended, shares of Google started dropping. By late morning, they had dipped to 338.58, down 15% from 397.54 earlier in the day. They ultimately closed at 362.62, down 7.1% for the day.

But despite all the panic, Reyes' message wasn't anything new, analysts say.