In the latest data point for Q4'26, Alibaba ( BABA ) reported a net income of 3.69B USD. This figure represents a significant year-over-year ( YoY ) decline of approximately 70.63%, marking the lowest quarterly net income within the observed period. The chart illustrates a highly volatile trend in profitability from Q1'24 to Q4'26, characterized by recurring seasonal peaks in the third fiscal quarters followed by sharp contractions in the fourth quarters. While the company experienced a strong recovery phase between Q2'25 and Q4'25 with triple-digit YoY growth, the trend shifted downward starting in Q2'26, leading to a sustained period of declining net income and negative year-over-year momentum.