<div id="readability-page-1"><div id="ArticleBody-InlineImage-108229477"><div><div><p>Jaap Arriens | Nurphoto | Getty Images</p></div></div></div><div><p><span id="RegularArticle-QuoteInBody-1">Alibaba<span><span id="-WatchlistDropdown"></span></span></span> on Wednesday said its core profitability plunged in the March quarter amid heavy investments in tech and e-commerce.</p><p>The Chinese tech giant said its adjusted earnings before interest, taxes, and amortization, a measure of the company's underlying profitability, came in at 5.1 billion Chinese yuan ($750.9 million). </p><p>This financial metric strips out one-time gains or losses to focus on a company's core business.</p><p>Alibaba's U.S.-listed shares were initially higher in premarket trade before turning negative. They were last seen trading down 3.4%.</p><p><strong>This is breaking news. Please refresh for updates.</strong></p></div><div><p>Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.</p></div></div>

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<p>Alibaba reported an 84% drop in core profitability for the March quarter, attributed to significant investments in technology and e-commerce. The company's adjusted earnings before interest, taxes, and amortization were 5.1 billion yuan ($750.9 million). Following the announcement, Alibaba's U.S.-listed shares initially rose in premarket trading but later fell by 3.4%.</p>

- Alibaba reported a significant decline in core profitability for the March quarter due to substantial investments in technology and e-commerce.  
- The company's adjusted earnings before interest, taxes, and amortization were 5.1 billion Chinese yuan ($750.9 million).  
- Following the announcement, Alibaba's U.S.-listed shares initially rose but then fell by 3.4%.

Alibaba's core profit plunges 84% even as AI and cloud growth accelerate