Tencent’s core gaming business delivered strong results as the Chinese technology giant contended with a cooling economy.

Sometimes described as the world’s largest games company in revenue terms, China’s Tencent increased its net profits by 47% in the three months from July to September. Gains were driven by both its domestic and international games businesses.

Tencent on Wednesday reported quarterly profit well above analysts’ expectations, amid strength in its gaming business. Revenue grew by 8%, but nevertheless came just under an analyst forecast. The company also noted it was starting to see benefits from artificial intelligence.

Tencent Music Entertainment missed quarterly revenue estimates on Tuesday, as Beijing's crackdown on online gambling continues to impact its social entertainment segment.

Tencent Holdings, operator of China’s biggest social media app and the world’s largest video gaming business by revenue, beat analyst estimates with a 47 per cent profit jump in the third quarter, helped by renewed growth in the video gaming segment.