Twitter's Q2 earnings results beat Wall Street's expectations with profits of 2 cents a share versus an expected loss of 1 cent a share. Twitter (TWTR) also exceeded revenue expectations coming in at $312 million versus the estimated $283 million. Shares of Twitter are soaring in after-hour trading on Tuesday. Joy Baer is the President of STRATA, a media software company that provides software to the buy and sell side. Baer says her firm's data indicates Twitter has gained ground on Facebook (FB) in 2014 on the advertising sales front. TheStreet's Susannah Lee has details from New York.

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