Three experiments tested young children's efficiency in recognizing words in speech referring to absent objects. Seventy-two 24-month-olds heard sentences containing target words denoting objects that were or were not present in a visual display. Children's eye movements were monitored as they heard the sentences. Three distinct patterns of response were shown. Children hearing a familiar word that was an appropriate label for the currently fixated picture maintained their gaze. Children hearing a familiar word that could not apply to the currently fixated picture rapidly shifted their gaze to the alternative picture, whether that alternative was the named target or not, and then continued to search for an appropriate referent. Finally, children hearing an unfamiliar word shifted their gaze slowly and irregularly. This set of outcomes is interpreted as evidence that by 24 months, rapid activation in word recognition does not depend on the presence of the words' referents. Rather, very young children are capable of quickly and efficiently interpreting words in the absence of visual supporting context.