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The source slide actually says "+100 ms -1% sales". A 1% drop in sales would likely cost even more in profits, given fixed costs.

In either formulation, it's within the range of plausibility.

In my experience, a single change that makes a web server faster causes a slow, steady increase in traffic over the next few days/weeks, as the audience reacts to the new responsiveness.

Note also that Google considers page load latency in scoring ad relevance, and almost certainly natural search result ranking as well. So everything improves with speed.

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