Facebook Is The 5th Company Over A Trillion

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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.

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