Sinking Stock forces Google to change it's tightlipped approach. (see GOOG graphic)

When Google CFO George Reyes remarked that "clearly our growth rates are slowing.", the emotional Google investors (over)reacted and Google stock price was down as much as $51.87 (13%).

More than $ 10 billion was wiped off the market value of Google.



Now, Google is trying hard to repair the damage and has already issued a press release for Wall Street investors

We would like to clarify and provide further information on these statements... We still see significant opportunities to improve monetization and intend to continue to focus our efforts in this area.

Almost all of the Google revenue is by means of online advertising. With the entry of big players like Yahoo and Microsoft in the contextual advertising market, Google may not be able to maintain its robust growth pace as it matures.

Related: Google Party ends. Time to sell GOOG

Google has also accepted that "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."

Analyst expect that Google's gross revenue will increase 61 percent this year, compared with 93 percent last year.