Wireless revenues pop at EA, but not enough to please investors

Electronic Arts Inc. continued to grow its mobile revenues even as it disappointed investors with a $95 million quarterly loss.
The publishing giant’s wireless business generated $44 million in revenues during the period, marking a 33% year-over-year increase and a slight bump over the previous quarter’s $42 million. And EA’s PSP (PlayStation Portable) games saw a remarkable 171% year-over-year increase as the company’s entire “mobility” business racked up $122 million in revenues, up from $81 million in the year-ago period.
Those gains weren’t enough to satisfy investors, though, who expected better revenues than the $609 million EA posted during the quarter. Shares tumbled to a new low following the news before rebounding slightly to $43.55, down 8% from Tuesday’s close.
Like other mobile game-makers, EA Mobile is hoping to gain steam from the iPhone and other multimedia handsets coming to market. The company has already released several titles for Apple’s high-profile device, and has showcased Spore, which leverages the handset’s accelerometer.