Tencent Holdings Ltd.’s revenue rose 8% after the summer release of Dungeon & Fighter Mobile helped China’s most valuable company resist a severe economic downturn.

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

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 Music Entertainment missed quarterly revenue estimates on Tuesday, as Beijing's crackdown on online gambling continues to impact its social entertainment segment. The China-based company's revenue was at 7.

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 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.