Facebook’s big figures have halted a run of poor results for tech stocks.

The social media megalith reported first quarter profits of $US1.5 billion this week, almost three times the $US512 million Facebook made in the same three-month period last year.

Much of the massive increase comes from advertising revenue.

Facebook is the standout performer in the latest round of tech results, after Apple, Microsoft, Twitter, Netflix and Google’ parent company Alphabet all delivered weaker than expected earnings.

“Facebook is a company that arguably has one of the most valuable assets on any corporate balance sheet; they know everything about everybody,” said Mike Sorrentino, chief strategist at Global Financial Private Capital.

The company’s advertising revenue surged by 57 per cent year-on-year to $US5.2 billion, while monthly active user numbers went up 15 per cent to 1.65 billion.

“We had a great start to the year,” Facebook chief executive Mark Zuckerberg said.

“We're focused on our 10 year roadmap to give everyone in the world the power to share anything they want with anyone.”

Facebook shares have risen by 33 per cent in the last 12 months to trade at almost 40 times its forward estimated earnings.

Facebook’s board has given the green light to the issuance of a new class of non-voting shares so that Mr Zuckerberg can sell his shares, give away most of his wealth, but retain control of the company.

Also this week, online payments system PayPal also beat expectations by reporting a first quarter net income jump of 43 per cent to $US365 million. PayPal has done well by extending its platform to new merchants, including Woolworths in Australia.