Google is always trying out new designs, especially on the search page. Most of these experiments never make it to the main search page, and even the ones that do make it to the main search page go through several iterations.
In one of its recent experiments, Google removed full URLs from results, replacing them with the title of the page they link to.
Now it's trying something new, for a clearer and definitely more improved view of search results.
The changes are very minor, like most of the improvements to the search page. The search giant has removed the underlining of links in results and is using a slightly larger font and more space between lines.
As with most experiments, there's no way to know if the design will ultimately work. Assuming the test goes well and we can see it everywhere soon.
