Take-Two Interactive (TTWO) this afternoon posted better-than-expected results for its fiscal first quarter ending January 31, but provided guidance short of expectations.

For Q1, the publisher of Grand Theft Auto and other video games posted $256.8 million in revenue, up from $240.4 million a year ago, and above the Street at $210.50 million. Take-Two posted a non-GAAP loss of 52 cents a share; the Street had expected a loss of 73 cents a share.

However, for Q2, the company expects revenue of $200 million to $220 million, well short of the Street at $263.7 million. Take-Two sees a non-GAAP loss for the quarter of 10-20 cents a share; the Street consensus was for a profit of 4 cents a share.

For the full year ending October 2009, TTWO sees revenue of $1.1 billion to $1.25 billion, with non-GAAP EPS of 0-20 cents a share. The Street consensus is for $1.14 billion and 12 cents.

TTWO, which jumped 84 cents, or 14%, to $6.85 in the regular session, is down 30 cents, or 4.4%, to $6.55 in the regular session.