Director Jacques Audiard holds the Palme d’Or award for the film Dheepan as he poses for photographers during a photo call following the awards ceremony at the 68th international film festival, Cannes, southern France, Sunday, May 24, 2015. (AP Photo)
PARIS (AP) --
France's president says his country's strong showing at this year's Cannes film festival is no accident — suggesting it's partly thanks to government subsidies.
France has had long dry spells without prizes at Cannes. This year, unusually, five French films were selected for competition. The jury, led by American directors Joel and Ethan Coen, handed three prizes to French winners, including the top prize for Jacques Audiard's migrant drama "Dheepan."
Hollande said the prizes demonstrate "the effectiveness and originality" of French film financing "which I absolutely want to preserve and defend on a European level."
France argues that subsidies offer viewers more diversity than Hollywood blockbusters. French resistance to limits on film subsidies affected talks toward a major U.S.-EU trade deal.
Mark Zuckerberg talks about the Orion AR glasses during the Meta Connect conference on Sept. 25, 2024, in Menlo Park, Calif. (AP Photo/Godofredo A. Vásquez, File)
Meta Platforms Inc. posted sharply higher profit and revenue for its fourth quarter on Wednesday, thanks to higher ad revenue on its social media properties, sending its shares up in after-hours trading even as it forecast increasing expenses on its artificial intelligence efforts.
CEO Mark Zuckerberg said he expects 2025 to "be the year when a highly intelligent and personalized AI assistant reaches more than 1 billion people, and I expect Meta AI to be that leading AI assistant."
The Menlo Park, California-based company earned $20.83 billion, or $8.02 per share, in the October-December quarter. That's up 49% from $14.02 billion, or $5.33 per share, in the same period a year earlier.
Revenue grew 21% to $48.39 billion from $40.11 billion.
Analysts, on average, were expecting earnings of $6.76 per share on revenue of $47 billion, according to a poll by FactSet.
"We continue to make good progress on AI, glasses, and the future of social media," Zuckerberg said in a statement.
For the current quarter, Meta said expects revenue of $39.5 billion to $41.8 billion. Analysts are expecting revenue at the high end of that range — $41.68 billion.
The company also said it expects expenses in the range of $114 billion to $119 billion, driven by infrastructure costs and employee compensation. Meta had 74,067 employees as of Dec. 31, up 10% from a year earlier.
"Meta's Q4 performance underscores the company's resilience in a still-uncertain digital ad market. By beating both earnings and revenue estimates, they've demonstrated that cost discipline and efficiency gains are paying dividends," said Jesse Cohen, an analyst with Investing.com. "However, the real headline is their commitment to aggressive capital expenditures.... Read More