Meta May Overtake Google Search in Ad Revenue This Year, Bernstein Says

According to a research note from Bernstein analysts, Meta Platforms is on track to overtake Alphabet's Google Search in digital advertising revenue by the end of 2026. Bernstein highlights that when isolating Google Search from additional ad channels like Maps and Gmail, Meta may have already matched Google Search on an apples-to-apples basis. Meta's growth has been notably strong, capturing approximately half of all incremental digital advertising spending across the entire industry in the second quarter of 2026. The divergence in performance is largely attributed to differing artificial intelligence deployment models. Meta leverages algorithmic discovery through its Advantage+ automated ad-buying platform, which is generating over $75 billion in annualized revenue and returning $4.52 per dollar spent. Meta is supporting this push with projected 2026 capital expenditures between $130 billion and $145 billion. Coupled with emerging revenue channels such as WhatsApp monetization and Threads, Meta continues to capture substantial digital market share while Google Search maintains steady high-intent ad expansion.