In this Tuesday, Aug. 8, 2017 file photo, Lee Daniels, co-creator of the Fox series "Empire," poses for a portrait during the 2017 Television Critics Association Summer Press Tour at the Beverly Hilton in Beverly Hills, Calif. (Photo by Ron Eshel/Invision/AP, File)
LOS ANGELES (AP) --
"Empire" co-creator and executive producer Lee Daniels says the weeks since cast member Jussie Smollett was arrested and charged with fabricating a racist and homophobic attack have been "a freakin' rollercoaster."
In an Instagram video that doesn't refer to Smollett by name, Daniels says since "the incident" he and his cast have "experienced pain and anger and sadness and frustration and really don't know how to deal with it."
Daniels had been among the first to voice his support for Smollett after he made the report in January.
Daniels says the situation nearly made him forget to tell audiences that the Fox drama returns to the air Wednesday. Daniels and other producers removed Smollett's character from the season's final episodes after his arrest in Chicago.
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
