Chinese gaming and social media leader Tencent Holdings said its investment in artificial intelligence has yet to turn into significant revenue and may take several quarters to have a meaningful impact on earnings.

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.

BEIJING (Reuters) -Chinese technology giant Tencent Holdings posted on Wednesday a 8% rise in third-quarter revenue, driven by growth in its gaming business after the recent launches of new titles. Tencent,

Tencent said its revenue rose 8% year-over-year (YoY) to RMB167.2 billion (US$23.14 billion) for the third quarter, roughly in line with Wall Street expectation. The top line remained firm for the second quarter.

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 posted a stronger-than-expected 47% profit surge in the third quarter, driven by gains in gaming, advertising, and cloud services, as announced on Wednesday. The Chinese social media and gaming giant reported profit attributable to shareholders rose to 53.

Michael Vi. Tencent's (OTCPK:TCEHY) (OTCPK:TCTZF) third quarter revenue grew 8% year-over-year as recovery in its gaming business gained speed. Total revenues for Tencent — a vi