Wall Street is hitting record levels after Facebook Inc. (FB, Financial) reported quarterly results on Wednesday. The company's shares are up about 4% in premarket trading as the company reported better-than-expected earnings for its second quarter. EPS of $1.32 beat expectaions by 19 cents while revenue of $9.32 billion exceeded estimates by $120 million and increased 44.7% year over year.
"We had a good second quarter and first half of the year… Our community is now two billion people and we're focusing on bringing the world closer together," founder and CEO Mark Zuckerberg said.Â
Another morning gainer is Charter Communications Inc. (CHTR, Financial), whose shares rose 4.5% in premarket trading as the company reported second-quarter EPS of 52 cents on revenue of $10.36 billion, a growth of 3.9% on a pro forma basis, when compared to the same period a year ago. Growth was driven by residential growth of 3.8% and commercial revenue growth of 9.5%. Sales increased 68.1% year over year due to the transactions.
"With the rollout of our new pricing and packaging completed in June, we are now offering a simple, high value product across our 50 million passings, under one brand, Spectrum," Tom Rutledge, chairman and CEO, said. "That product is working in the marketplace, and we continue to see higher year-over-year customer connect volumes across our new footprint."
Twitter Inc. (TWTR, Financial)Â shares were well in the red in premarket trading. Despite reporting better-than-expected earnings and revenues, the stock fell on a lack of monthy active user base growth. EPS of eight cents beat expectations by three cents while revenue of $574 million beat expectations by $37.38 million. Revenue, however, declined 4.6% from the prior-year period.
Global markets
European stock markets closed well in the red with the FTSE 100, the DAX and the CAC 40 falling 0.03%, 0.76%, 0.12%, respectively, while the IBEX 35 traded higher.
In Asia, markets closed higher. Japan’s Nikkei, China’s Shanghai Composite Index, Hong Kong’s Hang Seng Index and India’s BSE Sensex closed in green territory.
Disclosure: The author holds no position in any stocks mentioned.
