Best Animated Short Film
03:11 GMT - "Bear Story" ("Historia de Un Oso") wins the Oscar. First time nominees Gabriel Osorio and Pato Escala celebrate the first win for Chile.
Best Animated Feature Film
03:14 GMT - As widely expected, Pixar's "Inside Out" wins the Oscar.
Co-written and directed by Pete Docter and Ronnie Del Carmen – the look into how human emotions control actions was widely loved by adults and children. Docter and Del Carmen are Pixar fixtures who also wrote 2010's Globe winner "Up."
Docter uses his acceptance speech to offer hope to children, telling them, "If you are in junior high, high school, working it out, suffering, there are days you are going to feel sad, angry, going to be scared. That's nothing you can choose, but you can make stuff. Make films, draw, write - it will make a world of difference."
03:17 GMT - Kevin Hart comes on to introduce a performance by "The Weeknd." He says "I want to take a moment to applaud all of my actors and actresses of color that didn't get nominated tonight. The reason why I say that is because I want them to understand that tonight should not determine the hard work and effort that you put into your craft. At the end of the day, we love what we do and we are breaking major ground doing it."
He also kids that he thought he might get a front row seat this year since the Academy would want to highlight the black actors in the audience, but he says, "Whatever. It's okay. I have a suit with shiny stuff on it, so, I still made a statement."
03:24 GMT - Emmanuel Lubezki is asked in the trophy room how he feels about "Mad Max" beating "The Revenant" for so many awards.
His response, "I never saw the Academy Award as a competition. It should not be viewed as a competition because it's not objective. It's only 6,000 people that vote and I am just lucky (to have won for cinematography)."
03:27 GMT - Rock interviews every day Americans at a movie theater in Compton and when he asks one women if she saw "Bridge of Spies" the women is sure he's made up the title as a joke to make her look bad.
"Did you see 'The Big Short'?" he asks. "I did not," the woman responds.
"Bridge of Spies?"
"Where are you getting these movies from?" she demands.
03:37 GMT - It's a big surprise as Mark Rylance beats sentimental favorite Sylvester Stalone.
This is the first Oscar nomination and win for classical actor Rylance, who won the BAFTA for this role last week. Best known in England for his stage work at the Globe Theater, Rylance wins for his portrayal of undercover KGB agent Rudolf Abel in Steven Spielberg's "Bridge of Spies."
The Brit is set to team up with Spielberg again for the upcoming "BFG" from the beloved Roald Dahl book.
Rylance also beats Christian Bale ("The Big Short"), Tom Hardy ("The Revenant") and Mark Ruffalo ("Spotlight").
In his acceptance speech he says, "I want to just say thank you to my fellow nominees. I don't know how they separate my acting from your glorious acting in these wonderful films that you are in. I don't know how they separated the five of us from all the other supporting actors who are making films at the moment. It's a wonderful time to be an actor and I'm proud to be part of it."
Shock all around
03:39 GMT - AFP's Zablit reports that the journalists in the press room were shocked by Rylance's win. One Hollywood reporter said, "No way, no way, poor Sylvester."
Best Documentary Short Subject
03:42 GMT - It's a second Oscar for Pakistani journalist and filmmaker Sharmeen Obaid-Chinoy. "A Girl in the River: The Price of Forgiveness" tells the story of Pakistani honor killing survivor Saba. Obaid-Chinoy last won this category in 2011 for the short documentary "Saving Face," which made her the first Pakistani to win an Academy Award.
Obaid-Chinoy told AFP ahead of the Oscars she is working with Pakistan's Prime Minister Nawaz Sharif to rid the country of honor killing by tightening legislation. "The biggest victory would be to get the legislation passed -- to take forgiveness off the table, to have a law that deters killing women in the name of honor and for people to realize that this is a serious crime."
Best Documentary Feature
03:47 GMT - "Amy" wins the Academy Award.
Asif Kapadia's look at the short life of the late singer Amy Winehouse became the second-highest grossing documentary at the British box office. Focusing heavily on the soul singer's substance abuse, the film has been attacked by Winehouse's father. This is the first Oscar win for Kapadia and James Gay-Rees.
Gay-Rees dedicates the win to Winehouse's fans.
03:50 GMT - Whoopi Goldberg is on stage to recognize the Academy's honorary award winners Gena Rowlands, Spike Lee and Debbie Reynolds. It appears that only Rowlands is in the crowd tonight.
03:56 GMT - Cheryl Boone Isaacs has the unenviable task of giving the speech on behalf of the Academy of Motion Pictures. She chooses to quote Dr. Martin Luther King Jr. in her forward looking speech.
04:00 GMT - Foo Fighters frontman Dave Grohl opts for acoustic guitar and the Beatles song "Blackbird" to honor Academy members who died in the past year.
The segment ends with the voice and image of "Star Trek" actor Leonard Nemoy.
04:04 GMT - Child actors Jacob Tremblay and Abraham Attah come on to present the award for Best Live Action Short Film. Rock runs out with boxes for them to stand on as the microphone is way too tall for Tremblay.
The Oscar goes to "Stutterer." These are the first Academy Award nominations for Irish writer/director Benjamin Cleary and English producer Serena Armitage. The film follows a lonely man who has found connection through an online relationship, but when faced with the prospect of meeting the object of his desire he will have to reveal his speech impediment.
Cleary says, "Every day is a great day to be Irish, but particularly today."
Best Foreign Language Film
04:10 GMT - The Oscar goes to "Son of Saul." Hungary's submission from director Laszlo Nemes is a harrowing tale set in Auschwitz in 1944. The debut feature film from Nemes, who co-wrote the script with Clara Royer won the Grand Prix at the 2015 Cannes Film Festival and Hungary's first Golden Globe award.
It beats films from France, Colombia, Jordan and Denmark.
04:14 GMT - Vice President Joe Biden receives a standing ovation from the crowd and he tries to tell the crowd to sit by saying, "I'm the least qualified person here tonight."
Biden encourages everyone watching to visit www.ItsOnUs.org, to pledge to stand up, speak out and help change the culture around sexual assault.
Best Original Score
04:25 GMT - This is the first Academy Award for Italian composer Ennio Morricone.
At 87 he had five previous nominations, including the score from "The Untouchables." Morricone also received an honorary award in 2006 "in recognition of his magnificent and multifaceted contributions to the art of film music."
He wins tonight for the score to Quentin Tarrantino's Western "The Hateful Eight."
He beats a veteran field of composers including John Williams, Thomas Newman, Carter Burwell and Johann Johannsson.
Morricone accepts the award in Italian.
"There isn't a great soundtrack without a great movie that inspire it," he says.
Best Original Song
04:31 GMT - "Writing's on the Wall" from the latest James Bond thriller "Spectre" by Sam Smith and Jimmy Napes wins the Oscar.
Smith, the 2015 Best New Artist at the Grammys, also won the Golden Globe for the song. It was the first Bond theme song to reach number one in the UK.
Smith dedicates his Oscar to the LGBT community. He says, "I stand here as a proud gay man."
04:33 GMT - Mark Rylance tells the journalists backstage he doesn't like to think of actors as competing.
He explains, "I feel more I am a spokesman than someone better than the nominees. And I know that there are so many other nominees outside the five of us. Idris Alba…, and all kinds of actors, so I don't take it too seriously."
More on "Amy"
04:34 GMT - Backstage, documentarian Asif Kapadia responds to criticism by Winehouse's father of the film.
"Amy had become kind of a punch bag. She became kind of a bad girl in the press and this film has opened people eyes to her again and people now understand what a great talent she was and that's what our job was. Our job was not to blame anyone."
04:42 GMT - Alejandro G. Inarritu wins the Oscar for the second year in a row. The Mexican filmmaker joins just two other directors -- Joseph Mankiewicz and John Ford -- who won the award for two consecutive years.
At the Mexico City premier of "The Revenant," Inarritu said he was ready to "hibernate like a bear" after work on back-to-back Oscar nominated films. Now with two Academy Awards for Best Director, he will undoubtedly have scripts piling up at his door, but he claimed he could not imagine making another movie anytime soon.
Inarritu pays tribute to Leonardo DiCaprio saying, "You are 'The Revenant.'"
To wrap up his acceptance speech he tells the audience they have an opportunity "to really liberate ourselves from all prejudice and, you know, this way of thinking and make sure for once and forever that the color of skin become as irrelevant as the length of our hair."
04:47 GMT - Brie Larson takes home her first Oscar. Larson broke out this year with the role of Ma in "Room."
Before taking the stage, she turns to the row behind her and grabs her co-star Jacob Tremblay for a huge hug.
Larson concludes her acceptance speech with a thank you to movie-goers. "Thank you for going to the theater and seeing our film. I appreciate it."
04:51 GMT - On his sixth nomination, Leonardo DiCaprio finally wins the Oscar for his portrayal of Hugo Glass in "The Revenant."
DiCaprio swept the awards leading up to the Oscars, for his gritty performance that included eating raw bison liver.
He receives a standing ovation from the room - with "Titanic" co-star Kate Winslet looking particularly proud.
DiCaprio beats out the talented field of Michael Fassbender, Bryan Cranston, Matt Damon and Eddie Redymane.
DiCaprio uses his moment for traditional thank yous, but also to discuss the reality of climate change and says, "Let us not take this planet for granted, I do not take tonight for granted."
05:08 GMT - "Spotlight" is named the top film of the year. Producers Michael Sugar, Steve Golin, Nicole Rocklin and Blye Pagon Faust take the stage to accept the award.
The tale of how Boston Globe reporters exposed years of sexual abuse in the Catholic Church is often compared to beloved journalism film "All the President's Men."
Written and directed by Tom McCarthy "Spotlight" took home just two Oscars tonight.
The movie tops "The Big Short," "Bridge of Spies," "Brooklyn," "Mad Max: Fury Road," "The Martian," "Room," and "The Revenant."
During the acceptance speech producer Pagon Faust said, "We would not be here today without the heroic efforts of our reporters. Not only did they affect global change, but they absolutely show us the necessity for investigative journalism."
05:10 GMT - For his last joke of the night Chris Rock says, "I want to invite everybody here to the B.E.T. Awards this summer."
He signs off with, "Black lives matter."
05:34 GMT - Erik Davis, Managing Editor of Fandango, tells AFP's Zablit, "It was one of the most consistently entertaining Oscar shows in memory. Whether or not it was intentional, the show had a unifying theme, and every Chris Rock joke was a perfect riff on that theme. He will definitely get invited to host again... it was full of meaningful speeches and genuine surprises like underdogs "Spotlight" and Mark Rylance beating favored best picture frontrunner "The Revenant" and best supporting actor frontrunner Sylvester Stallone."
05:36 GMT - The 88th Academy Awards will leave everyone with plenty to discuss at the water cooler tomorrow morning.
The evening started out with George Miller's "Mad Max: Fury Road" running the board, taking away six awards for the look and sound of the film.
A first time win for the visual effects artists on "Ex Machina" over veterans who worked on "Star Wars: The Force Awakens" is seen by many insiders as an upset.
Supporting actress was predicted to be a tight race and Alicia Vikander of "The Danish Girl" came up with the win. More surprising was Mark Rylance's win for supporting actor, over the sentimental favorite Sylvester Stalone.
After her emotional performance, it was hard to imagine that Lady Gaga was not going to win for Best Original Song, but the Bond theme by Sam Smith and Jimmy Napes took home the Oscar.
Best director, actor and actress went to the presumed favorites of Alejandro G. Inarritu, Brie Larson and Leonardo DiCaprio, but many will be surprised that "Spotlight" managed to take home Best Picture.
The biggest takeaway from the night may be Rock's unrelenting jokes. The energetic, 51-year-old funnyman made quips about lynching and even suggested that he was selected to host because of his race.
So, as the stars head to the after parties, and the winners wait to get their statues engraved, AFP is closing this live report. Thanks for joining us.