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We started rolling out the next generation of the Penguin webspam algorithm this afternoon (May 22, 2013), and the rollout is now complete. About 2.3% of English-US queries are affected to the degree that a regular user might notice. The change has also finished rolling out for other languages world-wide. The scope of Penguin varies by language, e.g. languages with more webspam will see more impact.
This is the fourth Penguin-related launch Google has done, but because this is an updated algorithm (not just a data refresh), we’ve been referring to this change as Penguin 2.0 internally. For more information on what SEOs should expect in the coming months, see the video that we recently released.
[edited by: Brett_Tabke at 12:12 pm (utc) on May 23, 2013]
[edit reason] added quote [/edit]
[edited by: dolcevita at 3:35 pm (utc) on May 23, 2013]
If you see a spam site that is still ranking after the latest Penguin webspam algorithm, please tell us more about it.
[edited by: Robert_Charlton at 5:36 pm (utc) on May 23, 2013]
[edit reason] vetted shortened link, added Google title and quote [/edit]
^^^ By heck, where do I start?
I am under the impression that Penguin was a site-wide authority devaluation. Maybe Matt Cutts' comment implies that it will only apply to sub-sections of a site instead.
[edited by: purplekitty at 5:41 pm (utc) on May 23, 2013]
[edited by: tedster at 10:35 pm (utc) on May 23, 2013]
I've seen some big data sets in an initial analysis that indicate drops as high as 50% of keywords lost for some of the more visible sites.