What's significant about this is Google's income has been increasing year over year and quarter over quarter while Microsoft earnings have been dropping year to year, quarter to quarter. I believe Microsoft earnings are due next week. MS has already stated earnings will be down for the rest of the year.
It's interesting that online businesses have been less affected by those in the real world or with physical locations such as stores in malls etc. I think that it's partially because as an online business owner you can keep costs really low and therefore be more responsive to price changes.