Meta Platforms META recently launched new abilities for users to pay directly to local small businesses from WhatsApp chat in Brazil.
The new feature will connect small businesses and prospective buyers through WhatsApp and reduce the hassle of managing different websites and apps for shopping and payments.
This seamless and secure checkout experience unlocks the merchant payment market in Brazil. This will likely improve user growth across Meta’s Family of Apps business and drive the top line.
Payments on WhatsApp feature was initially launched in Brazil to provide users with in-app commercial abilities. This includes viewing a store’s catalog and sending or receiving payments with strong security and privacy principles. Currently, this feature is available only for users in India and Brazil.
In November 2022, WhatsApp launched its business directory and search feature in Brazil to find businesses from within the app, providing categorization of businesses and saving users time looking for various websites and contact details.
Meta Platforms, Inc. Price and Consensus
Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. Quote
META Facing Challenges Amid Market Turmoil
Meta has been suffering from lower ad revenues primarily due to Apple’s AAPL privacy related changes in iOS.
Revenues from Family of Apps (99% of total revenues) in the fourth quarter of 2022, which includes Facebook, Instagram, Messenger, WhatsApp and other services, dropped 4% year over year to $31.4 billion. Reality Labs’ revenues fell 17% year over year to $727 million.
Meta’s Metaverse ambitions have also suffered in the recent times due to decreasing user interest and challenging macroeconomic conditions.
Major companies like Disney DIS and Microsoft MSFT have already eliminated their metaverse division as a part of their restructuring plans for sustainable growth.
Disney eliminated its entire metaverse team of roughly 50 people as a part of broader layoffs impacting around 7000 employees to reduce operating costs.
Microsoft ceased its Industrial metaverse core team within four months of its formation. The team of 100 employees who encouraged the use of metaverse in industrial environments were laid off in this process. The discontinuance was due to a shift in Microsoft’s priorities towards short-term projects rather than those needing extensive duration to generate revenue.
What Awaits META Shares in 2023?
Shares of Meta have gained 77.7% year to date compared with the Zacks Computer and Technology sector, which increased 19.3% in the same time frame.
The outperformance is largely due to its initiatives to increase efficiency through restructuring of the organization by making layoffs and cutting non-performing projects. This exhibits a shift in focus on growing its core businesses and realigning strategic priorities.
Meta’s long-term growth prospects are likely to improve as it revamps its focus to its core business of fastest-growing messaging offerings, including the monetization opportunity for WhatsApp as a step towards increased efficiency.
Meta continues to invest heavily in AI and launching features across Instagram, Facebook and WhatsApp to boost its user growth in its Family of Apps. It continues to develop and deploy privacy-enhancing technologies and build new tools that will make it easier for advertisers to create and deliver more relevant and engaging ads.
This Zacks Rank #1 (Strong Buy) company’s first-quarter 2023 revenues are pegged between $26 billion and $28.5 billion. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for fiscal first quarter revenues is pegged at $27.48 billion, indicating a decline in growth of 1.54% from the year-ago quarter’s reported figure.he consensus mark for earnings has dropped 0.5% to $1.97 per share in the past 30 days.
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"payment" - Google News
April 13, 2023 at 02:00AM
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Meta Platforms (META) Unveils New Payment Aspect in WhatsApp - Yahoo Finance
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