(Reuters) -Chinese e-commerce giant Alibaba ( BABA ) reported quarterly revenue that missed Wall Street estimates on Thursday, as the firm works on new strategies to keep consumers spending amid persistent economic weakness and global trade uncertainties.

U.S.-listed shares of the company fell more than 4% in premarket trading. They have risen about 58% so far this year.

Grappling with high unemployment rates and prolonged weakness in the economy, Chinese consumers have turned increasingly cost conscious, with deep discounts and rock-bottom prices required to lure spending.

That has led to a price battle among China's largest online e-commerce platforms as they jostle for market share, sparking intense competition between companies such as Alibaba ( BABA ), PDD Holdings' ( PDD ) Pinduoduo and JD.com ( JD ).

Alibaba's ( BABA ) results are in contrast with those of JD.com ( JD ), which on Tuesday topped first-quarter revenue estimates and said it was seeing strong user growth.

Alibaba ( BABA ) reported revenue of 236.45 billion yuan ($32.79 billion) in its fiscal fourth quarter ended March 31, compared with analysts' estimates of 237.24 billion yuan, according to data compiled by LSEG.

($1 = 7.2107 Chinese yuan renminbi)

(Reporting by Deborah Sophia in Bengaluru and Casey Hall in Shanghai; Editing by Jacqueline Wong and Shinjini Ganguli)