Earnings were up, and so was revenue. But Google disappointed some on Wall Street with lower than expected profits.

Google posted sales of $3.87 billion, up 58 percent from a year ago.

The company reported a net profit of $925 million, or $2.93 per share, an increase of 28 percent from last year. So-called pro forma earnings, which don't include stock-based compensation, tax benefits and other items, were $3.56 per share, but analysts had expected $3.59 per share, prompting a dramatic 7 percent drop in Google's stock price.

While Wall Street may have had an adverse reaction to Google's latest numbers, Dema Zlotin of SEMDirector said the company continues to look strong.

"The 'miss' was primarily due to over hiring of sales, account management and engineering staff, which will likely provide ROI in the near future," Zlotin said. "The company is executing on all fronts and seeing an acceleration of traffic and monetization capabilities."