Google anounced earnings thursday 1/22/09 after hours. The main headlines were profit down 68% year over year. However, they have $5.7 billion in revenue (+18% yoy), and $382 million in net earnings, but they had $1.1 billion in write downs of investments in AOL (-$726 million) and clear wire (-355 million). Their core business seems to be strong. Their earnings would be up 25% if it hadn't been for the write downs. Their stock has gone up from 306 on thursday's close till around 326 today.