Google’s set to announce its Q2 financial results later today, with the company stock boosting ahead of the earnings call.  Investors polled by Thomson Reuters expect the search engine to report a net revenue of $6.54 billion, which is up by 28 percent from last year.

In the second quarter, Google took the majority of market share in search and display ads. When it comes to search advertising budgets, Google took an 80% share in the U.S., compared with Yahoo and Bing at 19%. Google also dominated in other key search metrics, including impressions, clicks, click-through rates and CPM. Google generates over 90% of its revenue from its core search or text ad business.

Canaccord Genuity analyst Heath Terry predicts that Google’s mobile revenue will grow from $2.5 billion in 2011 to $14 billion by 2015. The company said it reached $1 billion in mobile revenues last year, but the Android platform faces a difficult battle with Apple’s iPhone. Investors are wishful for an update on Google’s effort to monetize Android, pushing forward on its progress with mobile advertising. The company may boost the platform growth, but mobile revenues still account for a fraction of Google’s overall sales.

Google’s social network Google+, which was launched just weeks ago, appears to be the company’s hopeful play into the social market.  While Google+ isn’t contributing anything to the company’s bottom line yet, it’s still something to watch for. Reports note that since the launch of Google+, the company’s shares have increased roughly to 9%, closing Monday at $527.78    But so far the social network is off to solid start.  Its users are already about 10 million strong, and it’s estimated to hit 20 million users by this weekend. Google+ received good reviews so far, and is growing rapidly, largely in part to Google’s existing user base for services like Gmail.

Global Equities Research analyst Trip Chowdry said “that Facebook has become ‘too cluttered over time’ was a common complaint we heard.” He also noted that in response to the Facebook clutter, developers have created several applications to help users move their Facebook content to Google+.  Move2Picasa, for example, lets users migrate their Facebook photos to Google+, which is linked to its photo service, once called Picasa.

Many of the social functions Google launched this year will not have an impact on its earnings for at least another quarter. Google leaped head on into the social realm earlier this year with Google +1, a bookmarking tool integrated with search, followed by Google+, and on Tuesday launched the next phase of its Google Offers daily deals specials in New York and San Francisco, after a successful test flight in Portland, Oregon.