WASHINGTON (dpa-AFX) - Meta Platforms (META) agreed to pay about $25 million to settle a 2021 lawsuit filed by President Donald Trump against the company and its Chief Executive Officer, Mark Zuckerberg. This lawsuit followed the suspension of Trump's accounts on the social-media platform after the attack on the U.S. Capitol, the Wall Street Journal reported citing people familiar with the agreement.
According to the Journal, $22 million of the settlement will fund Trump's future presidential library, while the remaining amount will cover legal fees and payments to other plaintiffs involved in the case.
Trump had criticized social media platforms for suspending his accounts after the January 6, 2021 insurrection, and for comments he made that were perceived as supportive of the violence.
As part of the settlement, Meta will not admit to any wrongdoing regarding the suspensions of Trump's accounts.
In December, ABC News reportedly agreed to a $15 million settlement to resolve a defamation lawsuit brought by Trump, which stemmed from on-air comments made about him by a top anchor.
While announcing its fourth-quarter results today, Meta Platforms said it expects first quarter 2025 total revenue to be in the range of $39.5 billion - $41.8 billion. This reflects 8%-15% year-over-year growth, or 11-18% growth on a constant currency basis.
'We continue to make good progress on AI, glasses, and the future of social media,' said Mark Zuckerberg, Meta founder and CEO.
The company does not provide a full-year 2025 revenue outlook, but it expects that the investments being made in its core business this year will present an opportunity to continue delivering strong revenue growth throughout 2025.
The company expects full year 2025 total expenses to be in the range of $114 billion - $119 billion.
The company anticipates full year 2025 capital expenditures will be in the range of $60 billion - $65 billion. It projects capital expenditures growth in 2025 will be driven by increased investment to support both its generative AI efforts and core business. The majority of its capital expenditures in 2025 will continue to be directed to its core business.
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