Ad Spend ConcernsAds face headwinds, especially brand spend and China-based sellers for performance spend, though should be somewhat resilient as advertisers favor scaled platforms.
Market CompetitionWith growing competitive and regulatory concerns, there is added pressure on Google to deliver solid 1Q results, and some helpful 2Q commentary.
Regulatory ChallengesRegulatory scrutiny on Google’s ad businesses continues to intensify, and with two adverse decisions in the US, there is a risk that regulators in other regions may pursue additional antitrust actions.