In recent video, Matt Cutss explained that there is no limit on number of links which a single page can have, there can be more than 100’s of links per page if they are not of spammy nature and Google will not penalize you for that.
While answering a question “How many links on a page should we have? Is there a limit?” Matt said that 100 links limit was actually removed in 2008 itself. Technically, it was not limit on number of links, it was limit on page size of 100KB, as they assumed that if one link size is 1KB, than its fine to have 100 links on certain page, but it was for old age algorithms and not valid any more for modern web to have limits on page size.
Matt explained that webmasters can have as many as link they want on any of web page, and there is no restrictions, with change of how web page contain rich media, images and other web elements, the limit on page size which Google bots can crawl also increased and hence the number of the links.
Matt also clarified that more links means that Page Rank will be divided equally in all those pages, so have more links means of outflow of page rank to other links existing on that page.
One thing which webmasters need to take care that if a certain page have too many links, it should not look like spammed page or filled with spammy or low quality links, in those case, Google reserves the right to take action against such pages.
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