The 88th Annual Academy Awards were handed out live from the Dolby Theatre in Hollywood, California last night, with Chris Rock hosting the Oscars for the second time. Now that another Oscar telecast is in the books, we have a full gallery of photos from tonight's big even showcasing the most talked-about moments. There was plenty of controversy leading up to tonight's event, which was all addressed by Chris Rock in his opening monologue.

For the second year in a row, no actors of color were nominated, which lead to a much publicized backlash from many prominent African-American stars and filmmakers, who took the Academy to task for its diversity issues. Academy president Cheryl Boone Isaacs even released a statement last month, revealing the organization's plans to increase diversity among its members by the year 2020. As many expected, Chris Rock addressed the Oscar controversy at length during his opening monologue. Here's an excerpt from his speech below.

"But this is the wildest, craziest Oscars to ever host, because we've got all this controversy. No, no black nominees, you know, and people are like 'Chris, you should boycott. Chris, you should quit. You should quit.' How come there's only unemployed people that tell you to quit something, you know? No one with a job ever tells you to quit. So, I thought about quitting. I thought about it real hard. But, I realized, they're gonna have the Oscars anyway. They're not gonna cancel the Oscars because I quit. You know? And the last thing I need is to lose another job to Kevin Hart, O.K.?"

As for the awards themselves, Spotlight won Best Picture, only taking home one other award for Best Original Screenplay (Thomas McCarthy, Josh Singer). Mad Max: Fury Road took home the most awards with six, although it was shut out of the major awards. The only other movie that won multiple awards was The Revenant, which won three Oscars, Best Actor (Leonardo DiCaprio), Best Director (Alejandro González Iñárritu) and Best Cinematography (Emmanuel Lubezki).

What was your favorite moment of this year's Academy Awards? Do you think Chris Rock was a great host and should come back next year? Take a look at our full photo gallery and video highlights below, and stay tuned for more from tonight's awards ceremony.