The display size has been bumped up to 5 inches but the resolution remains unchanged at 720p HD. Moto G display was one of its best features and it remains to be seen how well Moto G successor will handle the reduction in pixel densitity. The processor used is same 1.2 GHz quad core Snapdragon 400 backed by 1 GB RAM and 8 GB internal storage. A 16 GB variant is also expected. Imaging hardware has been improved as well. The new device will provide better details with 8 MP rear sensor and a 2 MP front shooter both capable of HD video recording.
Moto G2 will run on Android 4.4.4 KitKat according to the GFXbench listing. There is no word on the pricing and availability as of yet. An earlier leak suggests front facing speakers similar to Moto E, something which we all see in leaked images of Moto X+1. If these specifications make their way to the final device, Moto G2 can be considered to improve on the shortcomings of Moto G without major upheaval and this could be a good thing if price remains same.
Rumored Specs
Source: 1, 2