Did Investors Overreact to Google's Earnings?

Anyone paying even the slightest bit of attention to the financial news today had to notice Google's unexplained early earnings release and the sell-off that ensued. The stock sank some 8% in the moments following the release. And while the numbers were certainly lower than what Wall Street had hoped, the numbers themselves don't seem all that bad. Let's take a second to see if cooler heads might prevail and look at the fundamentals -- as any Foolish investor should.