Google’s Q2 revenue grew by more than 20 percent compared with the same quarter of last year, beating the consensus expectations of Wall Street analysts, but the company’s bottom line was smaller than expected: excluding one-time expenses, Google reported earnings of $6.08 per share — lower than the $6.25 that Wall Street stock-watchers were expecting. Although the company doesn’t comment on expectations, it did say that spending had increased, primarily as a result of data center construction.

The company’s revenues totalled $15.96 billion — up 22 percent year-over-year — compared with consensus estimates of $15.61 billion, and earnings after taking into account spending related to stock-based compensation and other expenses hit $3.42 billion or $4.99 per share. After excluding those costs, earnings totaled $4.18 billion.

One of the metrics that analysts and investors have been watching closely at Google is the cost-per-click related to the company’s ads (the amount…