Clicks on Google advertisements in March grew 2.7 percent over February. Clicks for the first three months of 2008 grew 2 percent over 2007's first quarter. It's a drastic slowdown in growth. In the fourth quarter of 2007, paid clicks were up 25 percent year-over-year. In the third quarter of 2006, year-over-year growth reached 48 percent. SAI reports that the slowdown has analysts predicting that Google's first-quarter revenues grew 25 percent year-over-year, well below the company's usual pace. Valleywag will have live coverage when Google reports its earnings tomorrow.

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