Alibaba Group reported fourth-quarter and full fiscal year 2026 revenue of 243.38 billion yuan. This 3% year-over-year increase narrowly missed analyst expectations. Adjusted non-GAAP net profit fell 99.7% to 86 million yuan. Adjusted earnings per ADS reached 0.62 yuan, missing the consensus estimate of 5.79 yuan. Management attributed the profit decline to aggressive investments in AI, cloud infrastructure, and quick commerce. Cloud Intelligence revenue grew 38% as AI product adoption accelerated. Alibaba's U.S.-listed shares declined in pre-market trading following the earnings miss.