Activision's report states that net revenue for the third quarter clocked in at a record $1.48 billion, up 80% over figures of $824 million in 2007's holiday season. The company also raised its 2008 fiscal year net revenue outlook from $2.45 billion to $2.65 billion, driven by the industry-wide surge in sales figures and the success of Infinity Ward's Call of Duty 4: Modern Warfare.

The company also noted that its merger with Vivendi is proceeding as planned, and is currently waiting on clearance from several regulatory commissions and other protocol before the deal can be sealed. Activision anticipates the transaction to be closed in the first half of 2008.

In a conference call earlier today, Activision confirmed that it is planning on new entries in the Guitar Hero, Call of Duty and Marvel: Ultimate Alliance series, as well as a reworking of the long-running Tony Hawk series.