Activision reports $34 billion in cash, investments, raises outlook
Activision Blizzard reports $841 million in net revenue for the third quarter of 2012, which is $100 million higher than its outlook of $740 million, and surpasses 2011's Q3 net revenue of $754. For the third year straight, Activision generated more than $1 billion of operating cash flow in the trailing 12-month period ending this quarter, on September 30.

Activision is in the black, with $3.4 billion available in cash and investments, and no debt to speak of, Activision Chief Financial Officer Dennis Durkin reports during a financial call.

"On September 30, we had no debt and $3.4 billion in cash and investments," Durkin says.

Activision cites World of Warcraft: Mists of Pandaria, Diablo 3 and Skylanders Spyro's Adventure as its main revenue drivers: Mists of Pandaria sold through 2.7 million copies in its first week, Diablo 3 has sold 10 million copies and Skylanders was the No. 1 action-figure line in the US for the first nine months of 2012, and topped game-sales charts.

With all that considered, plus the imminent launch of Black Ops 2, Activision raises its calendar-year outlook from $4.3 billion to $4.6 billion.

This article was originally published on Joystiq.