Facebook closed above $1 trillion in the market.
The company is the fifth U.S. company to hit the milestone, joining Apple, Microsoft, Amazon and Alphabet. The company’s shares closed up 4.2% at $355.64.
Facebook derives nearly all of its revenue from personalized advertisements that are shown to users of the Facebook and Instagram social networks. The company also has a hardware business building products like the Portal video-calling device, Oculus virtual-reality headsets and smart glasses, which are set to be released in 2021.
Facebook held its initial public offering in May 2012, debuting with a market cap of $104 billion.
The stock price is now up more than 90% since July 27, 2018.