American depositary receipts (ADRs) of Alibaba Group Holding (BABA) sank as the Chinese e-commerce giant's profit plunged on investment losses.

Alibaba said its fiscal fourth-quarter net income fell 86% over the year to 3.27 billion Chinese yuan ($453 million). Adjusted earnings for the quarter ended March were CNY10.14 ($1.40) per ADS. Both were below forecasts. A 7% increase in revenue at CNY221.9 billion ($30.73 billion)♎ beat estimates.

The company blamed the profit decline primarily on “a net loss from our investments in publicly-traded companies during the quarter, compared to a net gain in the same quarter last year, due to the 澳洲幸运5官方开奖结果体彩网:mark-to-market changes.”

Alibaba’s revenue got a boost from its c꧅ore Taobao and Tma♐ll Chinese online shopping business, which posted a 4% increase in sales to CNY93.22 billion ($12.91 billion).

In addition, the company announced that the board has approved a special two-part dividend made up of an annual regular cash dividend of $0.125 per ordinary share or $1.00 per AD🐼S, and a one-time extraordinary dividend of $0.0825 p♏er ordinary share or $0.66 per ADS. 

Alibaba ADRs were down 7.3% to $78.42 as of 12:15 p.m. ET.