Note: includes advertising that appears on desktop and laptop computers as well as mobile phones, tablets, and other internet-connected devices for all formats mentioned; includes contextual text links, paid inclusion, and paid listings; excludes display-oriented formats on social networks, even if triggered by search queries
Additional Note: The Supreme Court’s invalidation of 2025 IEEPA-based tariffs lifts a large cost and cash-flow drag on import-intensive goods advertisers, freeing up margin and refunds that modestly increase US search ad budgets versus the Q4 2025 baseline.