Alibaba's Profit Slumps but AI Business Shines

Core Insights - The company experienced a 53% decline in net profit due to intense competition in the food-delivery sector while maintaining steady revenue growth as it focuses on consumer AI [1] Financial Performance - Net profit decreased by 53% amid fierce competition [1] - Revenue growth remained steady despite the profit decline [1] Strategic Focus - The company is targeting consumer AI as a key area for future growth [1]