Alibaba (BABA) reported mixed first quarter results, with revenue exceeding estimates but earnings falling short. Analysts have adjusted price targets.

Alibaba's U.S. shares dropped 4% in premarket trading Thursday after the Chinese tech giant posted net income that plummeted 75% in the June quarter.The company has been investing…

Net income fell to 10.54 billion yuan in the June quarter, while cloud revenue grew 45% on surging AI demand