Alibaba's core profit plunges 84% even as AI and cloud growth accelerate

Jaap Arriens | Nurphoto | Getty Images Alibaba on Wednesday said its core profitability plunged in the March quarter amid heavy investments in tech and e-commerce. The Chinese tech giant said its adjusted earnings before interest, taxes, and amortization (EBITA), a measure of the company's underlying profitability, came in at 5.1 billion Chinese yuan ($750.9 million). This financial metric strips out one-time gains or losses to focus on a company's core business. …