Answers
Why does Google Ads say "limited by budget"?
It means the campaign could spend more than you allow. Good news if it is profitable, a warning if it is not.
The short answer
It means the campaign could spend more than you allow. Good news if it is profitable, a warning if it is not.
On a campaign above your break-even, this is the clearest scaling signal Google gives you — free information most accounts ignore for months.
On an unprofitable campaign it means you are capping a loss rather than fixing it, and the budget cap is doing work that structure and targeting should be doing.
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