Google, Inc. (NASDAQ: GOOG) is set to release its Q2 earnings here in a few minutes, at 2:30pm PDT, and from all indications, the Internet search leader will have another splendid quarter. Indeed, consensus estimates for quarterly earnings are sitting right at $3.10 EPS, a growth figure of over 40% from the year-ago quarter.

Can Google match this wild expectation? It has not had a problem before, as it seems the company outdoes itself every single quarter, one after the other. What is fueling all this earnings growth? Is it just text-based advertising that Google seems unstoppable at when it comes to serving advertising to search-based customers on the web? Or is Google making more money within other areas within some of its acquired properties as of late?

Something I have said for years now is that Google's growth is grand, but can't continue over and over into the stratosphere on the back of one revenue source: text ads (Google AdSense as well). The company's recent rash of high-profile acquisitions has sent a signal that it wants to be the leader in the search business across all platforms, devices and types of content. It needs to monetize all that activity as well, and if it can figure out how, there will be no stopping Google. Yahoo!, on the other hand, is still not able to figure this out, but it has made baby steps in that arena.

With that, here we go. Remember to use the "Refresh" button on your web browser to refresh this post every few minutes as updates happen. All times below are in PDT.