As of Q2'26 (2025-09-30), Alibaba's latest reported net income stands at USD 21.02B, reflecting a year-over-year decline of -52.27%. This marks a significant decrease compared to the previous quarter, indicating a notable contraction in profitability for the most recent period. Over the period from Q3'23 (2022-12-31) to Q2'26 (2025-09-30), Alibaba's net income has shown considerable volatility, with pronounced swings between quarters. After peaking at USD 49.13B in Q3'25, net income experienced sharp fluctuations, including periods of both strong growth (e.g., +237.53% YoY in Q3'25) and steep declines (e.g., -85.77% YoY in Q4'24 and -52.27% YoY in Q2'26). The data highlights a lack of consistent upward or downward trend, suggesting that Alibaba's profitability has been highly sensitive to changing market or operational conditions throughout this timeframe.