How Much Can You Earn With AdSense?

The commission you receive per click depends on how much advertisers are paying Google for the particular ad. You will earn a share of that amount.  I've heard of earnings anywhere from 2 cents to $15 per click.
Getting over $1 is probably very rare, although it does happen from time to time. However, you will find that most of your earnings will be on the lower end of the spectrum.
It's important to note that I cannot estimate how much you will earn based on your traffic. People always want to know what the average amount is per click.
No one knows the answer to this except Google, so don't let anyone try to tell you any different. It would be impossible for myself or any AdSense publisher to give this information because the ads all cost different prices and we have no idea what advertisers are paying.
However, there are some niches that obviously pay more. So it is logical to believe that keyword phrases like sex, make money, etc. may earn you more per click since these are highly competitive keywords that are searched for quite a bit on
The more competitive the search term, the more the advertisers pay and the more you earn as a publisher.
Even though Google will not reveal how much you are earning for each ad that is clicked from your site, you can still login to your account at any time and see the total amount of revenue you've generated that day, week, month, year, etc.
For example, if you see that you've made $12.60 today from 9 clicks then you can calculate that your average click-thru commission was $1.40 per click.  That's as detailed as their stats will get.  Also remember, that's only an average.  You won't know how much each specific ad brought in.
The amount you'll earn also depends largely on the amount of targeted traffic you receive to your own site, how well the ads match your audience's interests, the placement of the ads on your pages, and of course the amount you receive per click.
Ideally, you should create a site on a topic you know a lot about.  That way you'll have a much easier time creating a generous amount of content on that subject. 
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My Google AdSense Earnings

I have been receiving monthly checks from Google since 2003 (yes that's me holding the same check from above), and I've read numerous success stories of websites earning 5 digit incomes per month with AdSense. 
Now, I will admit, a 5-digit commission in a single month is not the norm for most participants, especially today because it is more difficult to get traffic than it was years ago.
My sites have been around for a long time and I have a great deal of traffic so that's a big reason why I earn 4 digits per month.
I promote my sites on social media, create YouTube videos etc. Making a lot of money with AdSense is all about numbers. The more traffic you have, the greater the earning potential.
My checks weren't always this large.  I think my first month's earnings in 2003 totaled less than $20. However, as my traffic increased, so did my checks.
I cannot emphasize this enough. AdSense is NOT an overnight get-rich-quick opportunity. Even though this may look easy, please don't underestimate the amount of work I've put into my sites over the years.