Take-Two
Take Two's popular Grand Theft Auto franchise

Shares of Take-Two Interactive (TTWO - Get Report) were rising sharply after-hours after the video game maker significantly raised its guidance for fiscal 2020 revenue. 

The stock was rising 7% to $123.50 a share in postmarket trading Monday, after having fallen 5.19% in regular hours after President Trump blamed video games for glorifying violence, helping lead to mass shootings.   

Management guided for fiscal 2020 revenue of $2.83 billion to $2.93 billion and GAAP EPS of $3.71 to $3.96. The revenue estimate is up from a previous estimate of between $2.5 billion and $2.6 billion. 

Take-Two reported fiscal first-quarter net income of $46.3 million, or 41 cents a share, but did not provide adjusted results. Revenue came in at $540.5 million.

"As a result of our better-than-expected first quarter operating results and increased forecast for the balance of the year, we are raising our outlook for fiscal 2020, which is anticipated to be another great year for our organization," said Strauss Zelnick, chairman and CEO of Take-Two. "We aim to build on this strong start by delivering a robust array of titles throughout the year, including Ancestors: The Humankind Odyssey, NBA 2K20, Borderlands 3, WWE 2K20 and The Outer Worlds, as well as new and innovative ways for consumers to remain engaged with their favorite entertainment experiences."

"The largest contributors to GAAP net revenue in fiscal first quarter 2020 were NBA® 2K19, Grand Theft Auto® Online and Grand Theft Auto V, Red Dead Redemption 2 and Red Dead Online, the Borderlands franchise, Social Point's mobile offerings, WWE® SuperCard and WWE 2K19, and Sid Meier's Civilization® VI," the company said. 

"Fiscal 2020 is off to a terrific start with first quarter operating results that beat our expectations," Zelnick said. 

The stock is up 10.5% this year.