Chinese internet giant Tencent reported a 47 percent year-on-year surge in profit attributable to equity holders to 53.2 billion yuan ($7.4 billion) for the third quarter of the year, fueled by the company’s robust video game business.

“Growth in gaming revenue was driven by the strong global performance of evergreen titles and contributions from new games with long-term potential,” Tencent Chairman and CEO Pony Ma Huateng said.

He said the company saw “tangible benefits of deploying AI across its products and operations, including marketing services and cloud”. Ma pledged to continue investing in artificial-intelligence technology, tools and solutions that assist users and partners.

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Noninternational financial reporting standards profit attributable to equity holders of the world’s largest video game maker leaped 33 percent year-on-year to 59.8 billion yuan ($8.29 billion) for the three months ended on Sept 30, according to its quarterly earnings results released on Wednesday.

Its revenue climbed 8 percent to 167 billion yuan from the previous year.

The earning results were partly driven by Tencent’s investment in Black Myth: Wukong, a global hit released in August. The game was adapted from the Chinese literary classic Journey to the West.

The tech firm’s international gaming revenue rose 9 percent to 14.5 billion yuan, lifted by Pubg Mobile and Brawl Stars.

Domestic gaming revenue jumped 14 percent to 37.3 billion yuan, boosted by Valorant, Honour of Kings, Peacekeeper Elite and DnF Mobile.

The fintech and business services revenue of Tencent, the parent company of WeChat, edged up 2 percent to 53.1 billion yuan during the same period. Payment revenue fell on weak consumption, while wealth management gained on higher user numbers and assets.

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Marketing revenue advanced 17 percent to 30 billion yuan in the third quarter, as advertisers increased spending on video accounts, mini programs, and Weixin search. Paris Olympics-related brand advertising also contributed to growth, the company said.

Tencent posted basic earnings per share of 15.35 yuan and said it would not pay an interim dividend.

Its Hong Kong-listed share snapped a three-day losing streak, climbing 1.4 percent to close at HK$403.8 ($51.91) on Wednesday.

Contact the writer at tianyuanzhang@chinadailyhk.com