I think that Google did suffer from the recession, but not as much as other companies, and not as much as they themselves could have suffered.

Google's growth over the past few years has been very impressive. They have consistently shown double digit growth in a number of important areas. Especially for a company that size, that's a very good metric.

This quarter, as you said, revenues were down. So, going from double digit growth to negative growth is obviously quite a hit. And in the quarter ending Dec. 31st, 2008, their net income went from over $1.2 billion to $380 million or so--quite a hit.

However, even with these problems, I think they are going to have strong growth over the next few quarters, especially when advertising revenues start to improve again.

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