Gemstar TV Guide International Inc. reported Thursday that first quarter profit soared nearly 300 percent, sending shares up nearly 4 percent Friday.

Gemstar reported first-quarter net income of $34 million (8 cents per share), a 295 percent leap from $8.6 million (2 cents) for the same period a year earlier, beating Wall Street’s expectations of 5 cents, according to a poll by Thomson Financial. The earnings included $3.6 million from discontinued operations, the company said.

Revenue for the Los Angeles-based media company rose 9 percent to $157 million Analysts polled by Thomson Financial expected profit of 5 cents per share on revenue of $153.7 million.

Shares in Gemstar gained 15 cents, or 3.7 percent, to $4.70 in afternoon trading on the Nasdaq.