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Like every quarter Google reported the status of its billion dollar investment in AOL, though lately the investment had been seeing some ups and downs and Doug Anmuth, analyst from Barclays thinks that Google may very well cut short that $1 billion throw away by an estimated $500 million. He stated:

We are not surprised that Google would write down its investment in AOL given AOL’s recent results of declining advertising revenues and our projection of continued declines for the remainder of 2008 and throughout 2009.  Interestingly, while we project negative growth at AOL’s display and Third Party Network over this period, we project AOL’s search business, powered by Google, to grow.