A pedestrian passes an AT&T store in New York, U.S.

Check out the companies making headlines after the bell Wednesday:

Facebook stock fell more than 2 percent after the bell. The social media giant reported fourth quarter earnings and revenue that crushed Wall Street expectations. The company also reported making more money per user than anticipated, as well as a 14 percent increase in usership year-over-year. Facebook also said it's daily active users declined in the United States and Canada, its most lucrative market.

The report comes on the heels of one of Facebook's most difficult years to-date, in which the social network repeatedly came under fire amid concerns about censorship and the addictive qualities of social media.

Shares of AT&T gained 3.7 percent in extended trading. The telecommunications company reported fourth quarter earnings per share of $0.78 on revenue of $41.68 billion, topping analyst expectations.

AT&T also said subscriber cancellations for the fourth quarter were the lowest ever.

Shares of PayPal lost more than 3 percent in extended trading. The online payment company reported earnings per share of $0.55 on revenue of $3.71 billion, beating the street's expectations of $0.52 EPS on $3.63 billion in revenue. PayPal also announced it closed a deal with eBay, securing PayPal as a payment partner through 2023.

Despite strong earnings, PayPal issued weak outlook for earnings and revenue during the first quarter of 2018.

Shares of eBay climbed more than 6 percent in the extended session. The e-commerce company announced fourth quarter earnings and revenue that fell exactly in-line with analyst expectations, reporting earnings of $0.59 on revenue of $2.61 billion. eBay announced it grew active users by 5 percent across its platforms, bringing its total to 170 million active users globally.

Prior to the earnings report, shares were up 2.6 percent after PayPal announced a continuing deal with eBay.

Microsoft stock lost more than 1 percent after the bell. The technology company reported second quarter financial results that beat analyst expectations on top and bottom lines. Microsoft also beat projections for growth in revenue from personal computing, gaming and business processes, several key areas of Microsoft's business.

The company announced a one-time, albeit significant, $13.8 billion charge, as a result of recent changes to the U.S. tax code.