Market value rose 1.8% in the second quarter, driven by a 7.5% increase in the Facebook stock.
The company recorded net profit of $6.9bn for the period ending March 31, 2018.
Facebook was up 8.4% year-on-year.
The stock rose 1%, or 0.8%, in after-hours trading.
Analysts expected Facebook to report earnings of $3.25bn on revenue of $22.8bn.
Facebook has been on a tear for the last few quarters, with the social network gaining traction in China, the United States, and more recently in Brazil.
The social network has had to deal with a number of challenges, such as a new crackdown on illegal content.
Facebook, however, has shown a knack for staying on top of trends.
Analytically, analysts believe the social media giant is now in a stronger position than it was a year ago.
Facebook’s growth has been driven by its ability to connect with people via social media.
The platform’s growth in China is due to an increase in users on the platform, as well as the emergence of new businesses.
Facebook is also benefiting from the growth of its online video service, which has attracted more than 10 billion users in China.
As well as this growth, Facebook has also had to adjust its business model.
Its business model has shifted to more of an advertising-driven model, which may have led to a drop in its market cap, as it was not profitable.
Analyststs also said the company’s revenue from advertising has also been affected by the crackdown on ads on the website, which are seen as being more controversial.
However, this revenue has increased as the number of users has increased.
This has also led to lower costs for the company, which is why analysts are expecting Facebook to see a profit in 2018.
In terms of earnings per share, analysts were expecting a profit of 6.2% for the full year, down from 7.8%.