Facebook expecting more 'Yahoo-like' patent infringement lawsuits

Washington, Apr 24 (ANI): Social networking giant Facebook has revealed in a new filing with the Securities and Exchange Commission that the firm is expecting more patent lawsuits.

Facebook said it would be the subject of further lawsuits similar to Yahoo's patent- infringement filing last month.

"We presently are involved in a number of other lawsuits, and as we face increasing competition and gain an increasingly high profile, including in connection with our initial public offering," the firm said.

"We expect the number of patent and other intellectual property claims against us to grow," it added.

According to The Telegraph, Facebook also revealed in the new fillings that the firm's revenues rose in the first quarter, but added that profits had fallen.

It stated that it saw revenues of 1.06 billion dollars in the three months to March 31, 2012, up from 731 million dollars in the same period last year.

However, the firm's profits fell to 205 million from 233 million dollars. (ANI)