Can you say $700? Google’s Q307 earnings are out, beating expectations and fueling even more. Google (NSDQ: GOOG) reported revenues of $4.23 billion, up 57 percent over Q306; the sequential increase was much smaller, 9 percent over the previous quarter. The company earned $1.07 billion, or $3.38 per share, up 46 percent over $733 million, or $2.36 per share, in Q306. The sequential change was healthy but not as dramatic: Google made $925 million in Q206.
Earnings release | Slides | Webcast

Revenues: Google’s own sites generated revenues of $2.73 billion—65 percent of the total. That’s an increase of 65 percent over Q306 and 10 percent over Q207.

—AdSense: Partner sites using AdSense generated $1.45 billion in revenues, about 34 percent of the total. Network rev is up 40 percent year over year and 8 percent over last quarter.

—International: Google keeps getting close to the half-way mark on international contribution to revenues. This quarter, 48 percent of the company’s revenues came from outside the U.S., as was the case last quarter. The only country broken out: the UK, which contributed $661 million, 16 percent of total revenue—the same as 3Q06.

Traffic acquisition costs: Google paid out $1.15 billion to AdSense partners.

More to come.