PopCap CEO Dave Roberts at Casual Connect in Seattle

Buoyed by the strength of PopCap Games and new titles such as Star Wars: The Old Republic, Electronic Arts today posted the highest operating cash flow in 31 quarters and revenue of $1 billion for the quarter ended December 31.

The Redwood City, California gaming giant, which purchased Seattle-based PopCap for as much as $1.3 billion last summer, also said that its digital revenue tally for the year came in just above $1 billion.

That’s an especially important milestone as EA looks to compete with the likes of Zynga  — with a market value of $7 billion — in social games.

PopCap appears to be performing well under its new owners, with the maker of hits such as Bejeweled and Plants vs. Zombies growing revenue by 30 percent on a trailing twelve month basis.

But EA’s stock tumbled two percent in after hours trading, due in part to warnings about future sales forecasts.

During the quarter ended December 31st, EA showed a net loss of $205 million. That compared to a loss of $322 million for the same period in 2010.

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