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Alibaba shares fall after June quarter net income drops 75%

The selloff in U.S.-listed shares comes after Alibaba reported a 75.0% drop in net income for its June quarter and sparked volatility in premarket trading.

Reported · Written up by our desk · Results

Alibaba shares were volatile in U.S. premarket trading after the company reported a sharp decline in profitability, driven by a 75.0% drop in net income in its June quarter, CNBC reported.

CNBC Markets, CNBC World, and CNBC Earnings all pointed to the same earnings outcome as the catalyst for the move in Alibaba’s U.S.-listed shares.

The reporting also tied the results to heavier AI spending, which helped weigh on net income in the quarter, according to CNBC.

The shares’ early trading reaction reflects the market’s focus on how ongoing investment plans are affecting current earnings at the company.

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