In the past two days, Google and Microsoft have announced earnings. Google’s announcement is over here and Microsoft’s announcement is over here.

The market had time to react to Microsoft’s announcement of cutting 5,000 jobs and a weak outlook on sales and products. Microsoft (MSFT) saw a 11.71% drop in their stock price based on that announcement. Google released their earnings report yesterday, after the market closed. It is hard to predict if their stock price will rise or fall but they are currently down 2.67% in the after market. Although Google’s revenue was up 18%, they saw a 68% drop in fourth-quarter profit.

We have lots of discussion around the two announcements. Google discussion at WebmasterWorld,Microsoft job cuts discussion at WebmasterWorld and Microsoft earnings discussion at WebmasterWorld and DigitalPoint Forums. Plus respective coverage at Techmeme.