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Activision Blizzard banks $503 million in first quarter profits

Beneath the Southern California headquarters of Activision Blizzard there lies a zeppelin-sized vault, near-bursting with piles of gold and riches -- or at least that's how we imagine it. The company today reported its first quarter 2011 earnings, reaping a record $1.4 billion in sales revenue, an increase of $100 million over the same period last year. Net income came to $503 million, up from $381 million in Q1 2010.

Not surprisingly, the publisher attributed a hefty chunk of those profits to continued sales of Call of Duty: Black Ops -- which it also confirmed is not just the best-selling game ever (in terms of revenue) in the US, but in Europe as well. In addition, the company noted that digital sales were up 30 percent over Q1 2010 and accounted for 30 percent of Activision Blizzard's revenue last quarter.

Finally, although it comes second in the "Activision Blizzard" name, Blizzard was first in profit for the quarter. The unit accounted for a whopping $170 million in income, compared to Activision Publishing's $48 million.

This article was originally published on Joystiq.