"Shrek the Third" knocks Spider-Man out

DreamWorks Animation SKG's "Shrek the Third" shattered the opening weekend record for an animated film, bringing in $122 million, exceeding expectations and chalking up the third-biggest opening of all time.

The film, which stole the No. 1 spot from "Spider-Man 3," was expected to gross between $80 million and $110 million and some analysts had not expected the film to top the $108 million opening of "Shrek 2," which had been biggest first weekend for an animated film in box office history.

The record-breaking results also mark the best opening of all time for a distributor Paramount Pictures film.