Alibaba's Earnings Report Triggers 5% Stock Drop as Net Income Plunges 86% YoY

Alibaba's fourth-quarter revenue beat estimates, but net income plunged 86% year-over-year.  Alibaba shares dropped around 5% in premarket trading following the earnings release. The company's core e-commerce business recovered, with revenue up 4% and customer management revenue up 5%. Alibaba focuses on reducing low-margin contracts and growing AI-related products in its cloud division. The company's AI revenue experienced "triple-digit growth" from customers in industries like finance and automotive.