Google just reported Q2 revenues: “Google reported revenues of $3.87 billion for the quarter ended June 30, 2007, representing a 58% increase over second quarter 2006 revenues of $2.46 billion and a 6% increase over first quarter 2007 revenues of $3.66 billion.”

Revenues were somewhat short of high-end Wall Street expectations and shares were down in after-hours trading. I’ve included some slides from the earnings call below.

Revenue growth of 58% Y/Y and 6% Q/Q:

– Google properties revenue growth of 74% Y/Y and 9% Q/Q, driven by both traffic and monetization – Network revenues increased 36% Y/Y and flat Q/Q, reflecting seasonality – International revenue growth strong, particularly in Spain, Italy, and France

Larry and Sergey both spoke and rattled off a laundry list of product launches, events, acquisitions and milestones for the quarter. Among them: Universal Search, Mapplets, Google Gears, iGoogle, CLIR and so on.

Sergey Brin also spoke about advertiser acceptance of Google’s new PPA model and said there had been good adoption. He characterized it as a “no brainer.” Interestingly he also said “advertisers don’t want clicks . . . they want leads and sales.”

Related Topics: Google: Business Issues

About The Author: Greg Sterling is a Contributing Editor at Search Engine Land. He writes a personal blog Screenwerk, about SoLoMo issues and connecting the dots between online and offline. He also posts at Internet2Go, which is focused on the mobile Internet. Follow him @gsterling. See more articles by Greg Sterling