A few hours back, Facebook has also joined the elite club of companies that are valued at over a trillion dollars. Facebook’s market cap hits $1 trillion for the first time and closed at around $1.008 trillion on Monday.
Facebook saw a rise in stock values after a federal court dismissed an antitrust lawsuit against the company. The Federal Trade Commission couldn’t provide enough evidence that Facebook holds a monopoly power. So, Judge gave a decision in favor of Facebook.
Facebook is the 5th U.S. company to hit this milestone. Apple, Microsoft, Amazon, and Alphabet have already surpassed the $1 trillion market cap. Microsoft recently surpassed the $2 trillion market cap.
The company earns from personalized advertisements on Facebook and Instagram apps. The company is now also into making devices such as Portal and Oculus. Instagram is earning well for the company and is one of the most used apps by teens.
