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Activision reports record digital revenue, raises 2011 financial outlook

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Activision has reported its financial results for its fiscal third quarter, ended September 30. The company posted revenues of $754 million, up from $745 million during the same period last year and, more importantly, over $100 million more than its original outlook of $650 million. Net income came in at $148 million, a hefty increase over the $51 million brought in during the same period last year.

The company brought in a record $427 million in revenues from digital channels, accounting for 57 percent of total revenue. The results also make note of Call of Duty: Black Ops, which Activision cites as "the #1 best-selling title in dollars in aggregate across all platforms in the U.S. and Europe for each of the first three quarters of 2011."

On the back Call of Duty: Modern Warfare 3 and the "stronger than expected consumer response" to the toy-driven Skylanders: Spyro's Adventure, the company is raising its revenue outlook for the rest of the year from $4.18 billion to $4.33 billion.