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The good news: Search is still a bright spot. The not-so-good news: There's no clarity going forward.

Wall Street seemed pleased with Google's earnings report today -- and lord knows it could use some positive news. The search giant indicated growth still exists in the online ad space during a tough economy, notching a healthy third-quarter net income of $1.35 billion, up 26% from $1.07 billion during the year-ago period; third-quarter earnings per share were $4.24, up from $3.38 for the year-ago period.

Read the full story in Advertising Age