Baidu, which owns the largest Internet search system in China, has published financial statements for the first quarter. Profit decreased by 10%, reports Reuters..

In January-March 2017, Baidu's operating profit was 2 billion yuan (about $ 290 million), down 9.3% from the same period in 2016. Net income decreased from 1.99 to 1.78 billion yuan ($ 258.1 million).

Revenue at the same time increased by 6.8%, reaching 16.89 billion yuan (2.4 billion dollars). About 70% of the turnover fell on mobile services versus 60% in the first quarter of last year.

During a conference call organized on the occasion of the publication of financial results, the management of Baidu said that the company plans to eliminate or merge unprofitable areas, and also to reorient resources towards artificial intelligence.

"Our focus is on two aspects: improving and expanding our key platform and commercializing artificial intelligence technologies," said Lu Qi, COO,.

Baidu will include services in the field of finance, delivery, cartography, etc.. In the main business - Internet search.