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A sign at Facebook headquarters in Menlo Park, Calif. Facebook earnings beat expectations for the fourth consecutive quarter, thanks in large part to a surge in ad revenue. (Ben Margot/AP/File)

8:43 am ET -

Facebook earnings nearly tripled and revenue grew sharply in the first quarter, surpassing Wall Street's expectations thanks to an 82 percent increase in advertising revenue. It was the fourth quarter in a row that Facebook earnings beat forecasts. 

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