Alibaba shares fall after Q4 earnings miss expectations despite AI and e-commerce growth

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Alibaba shares dropped 7.6% on Thursday after the company missed analyst expectations for both revenue and net income in its fiscal fourth quarter, ending in March. The Chinese e-commerce giant reported revenue of RMB 236.5 billion ($32.6 billion), slightly below the RMB 237.2 billion forecast. Net income came in at RMB 12.4 billion ($1.72 billion) — about half of the RMB 24.7 billion ($3.43 billion) analysts expected, though still a 279% year-on-year increase off a low base. Revenue from the Taobao and Tmall e-commerce division rose 9%, with customer management revenue growing 12%. Cloud revenue rose 18% year-on-year, supported by AI product demand.