Revenue grows to $48.4 billion, helping fuel the chief executive’s bets on augmented reality and artificial intelligence.

Key Takeaways Meta CEO Mark Zuckerberg said Wednesday’s that the rapid rise of competitors from China has only strengthened the tech giant’s commitment to its AI ambitions. The CEO said it’s too early to know how growing competition from China could impact its future investments.

Meta Platforms’ fourth-quarter revenue beat Wall Street expectations on Wednesday, but the company predicted sales in the current first quarter may not meet forecasts, sending mixed signals about how bets on pricey artificial intelligence-powered tools are paying off.

Meta Platforms on Wednesday said it has agreed to pay about $25 million to settle a lawsuit by President Donald Trump over the company's suspension of his accounts after the Jan. 6, 2021, attack at the U.

The president had sued the social-media company after his accounts were suspended following the Jan. 6 riot at the U.S. Capitol.

The suit was brought after Facebook, among other social media platforms, suspended Trump's account following the Jan. 6 insurrection that attempted to overthrow the 2020 election.

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