For the first time, Facebook's market capitalization exceeds one trillion dollars.
The stock of Facebook rose in late-day trade following a favorable legal verdict dismissing an antitrust complaint filed by the Federal Trade Commission.
The social media behemoth is the fifth US corporation to reach the $1 trillion market worth threshold.
On Monday, the social media behemoth Facebook reached a market valuation of $1 trillion for the first time. After Apple, Microsoft, Amazon, and Alphabet, it is the fifth US business to reach the milestone.
Personalized adverts offered to Facebook and Instagram users account for a large portion of Facebook's earnings. It also has a burgeoning hardware business, with items including as the Portal video-calling gadget, the Oculus virtual-reality headset, and smart eyewear due to launch in 2021.
With a market capital of 104 billion dollars, Facebook entered the market with an Initial Public Offering (IPO) in May 2012.
After reporting dismal sales and user data for the second quarter of that year, the company's stock dropped by 19 percent in 2018. Many incidents contributed to the decline, including data leaks, fake news, and the Cambridge Analytica scandal, in which a data firm improperly obtained the data of 87 million Facebook users and used it to target ads for Donald Trump during 2016 presidential election.
Despite all of these incidents, Facebook has recovered and has managed to grow its user base and average income per person. Since July 2018, the stock price has increased by more than 90%.
After reporting dismal sales and user data for the second quarter of that year, the company's stock dropped by 19 percent in 2018. Many incidents contributed to the decline, including data leaks, fake news, and the Cambridge Analytica scandal, in which a data firm improperly obtained the data of 87 million Facebook users and used it to target ads for Donald Trump during 2016 presidential election.
Despite all of these incidents, Facebook has recovered and has managed to grow its user base and average income per person. Since July 2018, the stock price has increased by more than 90%.
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