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Source: seekingalpha.com

Revenue hit RMB 284.8 billion, up 2% year-over-year, with 9% like-for-like growth excluding sold-off businesses.
Net income plunged 66-67% to RMB 15.6-16.3 billion amid heavy spending on quick commerce and AI.
Cloud revenue jumped 35-36%, fueled by triple-digit AI product growth for the tenth straight quarter.

Alibaba's Q3 fiscal 2026 earnings call covers results for the quarter ended December 31, 2025, highlighting revenue growth in core segments despite profit hits from investments. It spotlights momentum in AI, cloud, and e-commerce as the company pushes long-term bets like quick commerce. This matters because it shows Alibaba doubling down on tech amid China recovery and global AI race.