Interesting this, noticed it earlier on a google search on mobile - basically the site name (brand) above the URL, then title/description. Kneejerk reaction is I like it aesthetically, although whether it's another element that plays into the hands of recognised brands rather than smaller sites remains to be seen.
Expect there will be a little bit of tweaking required for some sites to get the desired result. Details here for anyone interested: https://developers.google.com/search...ames-on-search