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.

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