In spite of beating Q3 estimates, lifting 2011 guidance, and receiving positive ink from...

|By:, SA News Editor

In spite of beating Q3 estimates, lifting 2011 guidance, and receiving positive ink from Deutsche and others (I, II), Activision (ATVI -4.8%) is selling off today. One area of concern is an 800K Q/Q drop in World of Warcraft subscribers, to 10.3M. World of Warcraft subs pay $15/month, and Activision's cost of sales for the game amounted to less than $60M in Q3, making it a huge cash cow. (transcript)