When (NYSE: BABA) reported results for its fiscal 2023 fourth quarter (ended March 31), they were a bit of a mixed bag. Revenue of $30.3 billion missed Wall Street expectations, but adjusted diluted earnings per American depository share of $1.56 beat analyst forecasts.

Nonetheless, a key theme on shareholders' minds continues to be the macroeconomic backdrop. As of this writing, Alibaba shares are down a jaw-dropping 75% from their peak, which was set in October 2020.

But the China-based company is in the midst of some transformative steps to unlock shareholder value. While it's been beaten down, this growth stock is one that investors should consider buying now. 

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Source Fool.com