LOS ANGELES, California (X17online) - Paramount's "Transformers: Revenge of the Fallen" has set a record for the best Wednesday premiere, earning an estimated $55 million.

That trounces the previous title holder, "Harry Potter and the Order of the Phoenix" which brought in $42 million.

Now execs are watching to see if "Transformers" can top "Spider-Man 2's" $152 million dollar take for its first five days of release.

The action pic is also setting box office records in Australia, Korea, Japan and the UK.

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image courtesy of Jaime Trueblood / DreamWorks Pictures