Tencent Profit Beats Estimates After Big Summer for China Games

Tencent Holdings Ltd.’s profit surged a better-than-anticipated 47% after the summer release of Dungeon & Fighter Mobile helped China’s most valuable company resist a severe economic downturn.

The social media and entertainment leader posted net income of 53.2 billion yuan ($7.4 billion) for the September quarter, surpassing the average projection for 45.3 billion yuan. Revenue rose 8% to 167.2 billion yuan, broadly in line with estimates.

The world’s biggest games publisher scored this year with the Nexon Co.-produced mobile game, which is fueling a much-needed turnaround in its core division. Tencent also backed the record-smashing PC hit Black ...