We know, we know: Google seems well on its way to world domination. And when the company releases its second quarter results today at 4:30 EDT ^[1], the numbers should look pretty rosy, with revenues of $6.55 billion and gross margins above 77 percent.

Nevertheless, Google is likely to face some tough questions from Wall Street analysts that may focus on such issues as:

• Spending: Google has many projects underway, some of which generate no revenue, and it’s been on a spending spree.
• Pay-per-Click: Search advertising is Google’s main source of income, and its growth is expected to slow.
• Intellectual Property: After offering pi (about $3.141592 billion) for Nortel’s patents, Google was outbid, leaving it in a weaker position in the world of patent lawsuits. Google is already fighting one such action from Oracle, which claims the company used Sun code when creating Android.

CNET ^[2]‘s Larry Dignan wonders if the launch of Google+ will distract analysts from their bottom-line worries. We wonder if the coming results call is the reason for the timing of that launch, not to mention What Do You Love? ^[3] which hit the Web yesterday.

For the second quarter results see Google ^[1].