Google’s Earnings Up, Expenses Down

Ready to feel bad about your income? Google has just released its second quarter financial results.

The company pulled in $5.37 billion — a number 39 percent higher than its second quarter in 2007. The vast majority — 66 percent — came from Google-owned sites. Another 31 percent came from AdSense-related income. Just over half of Google’s money came from outside the U.S.

Google says its operating expenses were $1.65 billion for the quarter — 31 percent of its total revenue. That’s down slightly from $1.53 billion this time last year.

Still, Google missed average earnings estimates by about 11 cents a share — the fourth time ever it has not exceeded analyst expectations. Google’s stocks dropped about 7 percent following the news.

Update: Numbers are also now out from Microsoft and IBM, if you’re interested.