Adjusted earnings per ADS of $2.26 beat the analyst consensus estimate of $2.13. Net income plunged 29% Y/Y to $3.34 billion. Adjusted net income declined 9% Y/Y to $5.6 billion. Segments: Taobao and Tmall Group revenue declined by 1% year over year to $15.60 billion. Alibaba International Digital Commerce Group revenue increased by 32% year over year to $4.03 billion. Local Services Group revenue grew by 12% year over year to $2.23 billion, driven by Ele.me and Amap.