Looks like Google's Wall Street Honeymoon may be over. Even with 2nd quarter earnins which topped the streets expectations, their stock price is flat. Overall, earnings certainly look healthy - Adwords, Adsense and the supporting cast delivered $2.5Billion in one quarter. One interesting thing to note is that their TAC costs seem less than I expected - at about $780 (30% of total revenue).

Nice Work Google - now let's see how the Markets respond in the days and weeks ahead. One thing seems evident, Google's strategy for monetizing product features will be closely scrutinized from now on. I expect Wall Street to gradually start to exert a little more influence on Google's Product Plans soon.