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I want to tell you what happened, co-presenter Warren Beatty explained after the mistake was revealed.

I opened the envelope, and it said Emma Stone,La La Land.

Thats why I took such a long look at Faye and at you.

I wasnt trying to be funny.

Well, I dont know what happened.

I blame myself for this, host Jimmy Kimmel joked after the moment.

Lets remember, its just an awards show.

We have some great movies.

I knew I would screw this show up, I really did.

Thank you for watching.

Im back to work tomorrow night on my regular show.

I promise Ill never come back.

But to hell with my dreams.

Im done with it because this is true.

He added a note of praise to hisLa La Landopponents: And I have to say it is true.

Weve been on the road with these guys for so long.

My love toLa La Land.

My love to everybody.

The presenters had mistakenly been given the wrong category envelope and when discovered, was immediately corrected.

We are currently investigating how this could have happened, and deeply regret that this occurred.

Accountants from PricewaterhouseCoopers keep two sets of envelopes during the ceremony.

From a security perspective, we double up everything.

Thats why theres two of us.

After the show, however, Stone told reporters backstage that she hadnt lost track of her envelope.

God, I loveMoonlightso much!

Im so excited forMoonlight!

And of course, it was an amazing thing to hearLa La Land.

I think we all would have loved to win best picture.

But we aresoexcited forMoonlight, she said.

I think its one of the best films of all time.

So I was pretty beside myself.

I also was holding my Best Actress in a Leading Role card that entire time.

I dont mean to start stuff, but whatever story that was, I had that card.

So Im not sure that happened.

And I really wanted to talk to you guys first.

Meanwhile, a stagehand was buzzing around, looking for the envelope, Horowitz said.

When it was found, and the discrepancy discovered, Horowitz revealed the shocking error on stage.

No, theres a mistake.Moonlight, you guys won best picture.

This is not a joke.

So that film has really impacted people, sort of in a very different way thanMoonlight.

So when their name was read, I wasnt surprised.

I was really happy for them.

Its a group of some extraordinary people in front of the camera and behind the camera.

So I was really happy for them.

It threw me more than a bit.

I just didnt want to go up there and take anything from somebody, you know?

And thats very hard to feel joy in a moment like that.

But I feel very fortunate for all of us to have walked away with the best picture award.

There was a time when I thought this movie was impossible because I couldnt bring it to fruition.

You guys chose us.

After the show, Jenkins tweeted a photo of the envelope.