'The best growth story in tech': What Wall Street is saying about Facebook's explosive earnings

Wall Street has subsequently heaped commendation on the company. Its stock, one of the hot tech names that have driven the market's gains this year, is set to open at an all-time high on Thursday.

In the second quarter, Facebook's user base, the largest in the world, grew by 17% year-over-year, with 66% of its 2.01 billion users visiting the social network every day. Its revenues increased 45% from the same quarter a year ago to $9.32 billion, while its earnings per share was $1.32, beating the forecast for $1.13.

Here's a wrap of some of the analyst commentary: