U.S.-listed shares of Alibaba Group Holdings (BABA) sank Thursday after the e-commerce and cloud computing giant reported worse-than-anticipated results on slowing Chinese consumer spending and increased competition.

The company posted fiscal 2025 f✨ourth-quarter adjusted earnings per share of 1.57 yuan ($0.22), with revenue increꦜasing 7% year-over-year to 236.5 billion yuan ($32.81 billion). Both missed Visible Alpha estimates.

Sales at the Taobao and Tmall Group, Alibaba's Chinese e-commerce unit, rose 12% to RMB71.08 billion. They were up 22% to RMB33.58 billion at the Alibaba International Digital Commerce Group, and they grew 18% to RMB30.13 billion at the Cloud Intelligence Group. 

CFO Toby Xu said the company was "confident in our business outlook and will continue to invest in our core businesses to strengthen our competitive advantages."

Despite today's 7.5% drop, U.S.-listed shares of Alibaba Group Holdings are up about 45% year-to-date.