There's obviously a lot of specifics around contribution of mobile to these numbers, and what impact has come from enhanced campaigns causing advertisers to bid

There's obviously a lot of specifics around contribution of mobile to these numbers, and what impact has come from enhanced campaigns causing advertisers to bid on mobile even if they were not intending to. That said, as an experienced paid search professional, lower CPCs are good for me if overall quality remains the same or improves because it lowers my acquisition costs and improves my ROI. This in turn causes me to spend more with Google. Beyond that though is the notion that while CPCs may come down, Google has been pushing hard on the retargeting front. There has been a lot done to try to educate advertisers about the notion of multiple touch points and cross-channel attribution. With this comes paying for net more clicks since additional touch points may increase the conversion rate significantly, and thus might warrant paying for multiple clicks. They still have a ways to go IMHO...for starters, why the heck isn't display data baked into some sort of search funnel-esque report? And why can't I see revenue associated with view-through conversions? AdWords has the data if conversion tracking is setup... Closing the display loop and enabling advertisers to see the actual INCREMENTAL contribution of display impressions and view through conversions is critical to this IMHO.