Meta Platforms (NASDAQ:META) is actively reinforcing user privacy with recent feature introductions. The social media giant has unveiled a functionality on WhatsApp that enables users to send voice messages that disappear after being listened to. Additionally, Meta has implemented end-to-end encryption across Messenger and Facebook.
Having initially launched the View Once feature for photos and videos in 2021, Meta has now extended this capability to voice messages on WhatsApp. With end-to-end encryption safeguarding WhatsApp messages, this new feature adds an extra layer of privacy.
The incorporation of end-to-end encryption on Messenger and Facebook enhances security measures. The latest features bring additional functionalities, such as message editing, improved media quality, and disappearing messages.
Users can now edit messages within 15 minutes of sending them, and disappearing messages on Messenger last for 24 hours after transmission. Furthermore, the new read receipt control empowers users to decide when to respond to messages from senders.
Meta is also streamlining user access to photos and videos, enhancing image quality, and introducing fun layouts. Users now have greater control over response times for uploaded media in a collection. The company is testing HD media and file-sharing enhancements, with plans for a broader rollout in the near future.
Leveraging Generative AI for Enhanced User Experience
Meta has been harnessing generative artificial intelligence (AI) to elevate user experiences across its applications. Utilizing AI stickers, AI-based editing tools, the advanced conversational assistant Meta AI, and other tools, the company aims to enhance user engagement.
Meta is continuously working on improving these experiences, with Meta AI expanding its capabilities. Users can now expect more detailed responses on mobile and more accurate search results from Meta AI.
The large language model technology powering Meta AI is providing English-language users in various markets with AI-generated post-comment suggestions and community chat topic suggestions within groups.
A recent addition to Meta AI is the “reimagine” feature on Messenger and Instagram, an enhancement to the popular text-to-image generation feature called “imagine” across messaging apps.
Meta is also incorporating Reels into Meta AI chats and exploring ways to make Facebook more appealing and entertaining by leveraging Meta AI.
Beyond Meta AI, the company is refining its other AIs based on user feedback. Meta is introducing search capabilities to more of its AIs, with Bru and Perry AIs using Microsoft’s Bing to provide search results for sports-related queries. This feature will extend to other AIs, including Luiz, Coco, Lorena, Tamika, Izzy, and Jade.
Expanding User Base for Revenue Growth
Meta is experiencing consistent user growth across all regions, particularly in the Asia-Pacific region. Increased engagement with platforms like Instagram, WhatsApp, Messenger, and Facebook is a significant driver of growth.
Year to date, Meta’s shares have gained 176.5%, outperforming the Computer & Technology sector’s growth of 47.1%.
Reels, a key driver for growth on Instagram, remains a focus for Meta within its overall portfolio of video services, constituting over half of the time spent on Facebook and Instagram.
For the fourth quarter of 2023, Meta anticipates total revenues between $36.5 billion and $40 billion, with favorable forex contributing approximately 2% to year-over-year top-line growth.
The Consensus Estimate for the fourth quarter of 2023 projects revenues of $38.66 billion, reflecting a 20.2% year-over-year increase. Earnings are estimated at $4.77 per share, a slight uptick over the past 30 days.
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