Chinese social media and gaming company Tencent exceeded profit expectations in the third quarter, with a 47% surge in profit to 53.23 billion yuan, driven by growth in games, advertising, and cloud services. Gaming revenue rose by 8%, with domestic revenue up 14% and international games up 11%, while marketing services revenue increased by 17% due to strong demand for short videos and search features within the messaging app Weixin/WeChat. Tencent highlighted the benefits of its AI tools, with search within Weixin showing growth in commercial queries and click-through rates, and a nine-fold increase in accounts using AI-driven advertising features.
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